Texas electricity price surges amid record heat and demand ...Middle East

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Texas electricity price surges amid record heat and demand
Texas businesses and utilities in danger of running short on electricity will have to pay big money to shore up their reserves. The cost to acquire advance power for 4 p.m. Monday — when demand begins to spike and solar production starts to diminish — hit nearly 50 times its usual price on Sunday, according to the Electric Reliability Council of Texas (ERCOT). ERCOT expects demand to peak Monday afternoon at just shy of 83,000 megawatts — about 3 percent higher than last year's all-time records. The grid has just under 6,000 megawatts in reserve capacity, according to ERCOT. When afternoon comes, those numbers can spike even further, according to analysis from BloombergNEF. La

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