Texas Expects Power Demand Friday to Smash All-Time Summer High
(Bloomberg) -- The Texas grid operator expects electricity demand to surge to an all-time high Friday as frigid weather spurs heating needs.
Power consumption on the state grid may peak at more than 75.6 gigawatts between 7 a.m. and 8 a.m., according to the Electric Reliability Council of Texas. It's a significant increase from projections of about 72 gigawatts a day earlier as weather forecasts turned even colder. A gigawatt is enough to power about 200,000 Texas homes.
The current demand record is 74.7 gigawatts, set on Aug. 12, 2019. The Texas grid has never set an outright record in wintertime, though it was likely heading that direction a year ago during a winter storm before power plants started tripping offline, triggering blackouts for days. The state scrambled to fix those issues on a system that typically sees demand peaks in summer months.
As a winter storm lashes Texas this week, the grid so far has ample reserves of electricity and spot prices are fairly subdued.
©2022 Bloomberg L.P.
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