Texas Wholesale Power Surges as Grid Warns of Reserve Shortage
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Wholesale power prices in Texas soared as the state’s grid manager projected a shortfall in generation capacity amid surging demand and power plant outages.
The grid asked customers to curb electricity use during peak-demand hours Thursday afternoon as power consumption may reach about 68,000 megawatts, a third consecutive July record. The alert was issued because of the risk that the system’s cushion of excess supply will fall below adequate levels.