(Reuters) – Power demand in Texas will likely set new all-time highs on Thursday and Monday after breaking the prior record on June 12 as economic growth boosts overall use and homes and businesses keep air conditioners cranked up to escape a lingering heatwave.
The Electric Reliability Council of Texas (ERCOT), which operates the grid for more than 26 million customers representing about 90% of the state’s power load, has said it has enough resources available to meet demand.
Extreme weather is a reminder of the February freeze in 2021 that left millions of Texans without power, water and heat for days during a deadly storm as ERCOT scrambled to prevent a grid collapse after an unusually large amount of generation shut.
High temperatures in Houston, the biggest city in Texas, will mostly rise from 99 Fahrenheit (37.2 Celsius) on Thursday to 101 F on Sunday, according to AccuWeather. That compares with a normal high of 92 F for this time of year.
After power use soared to 74,917 megawatts (MW) on June 12, which topped the prior all-time high of 74,820 MW in August 2019, ERCOT forecast demand would reach 76,495 MW on Thursday and 76,662 MW on Monday.
One megawatt can power around 1,000 U.S. homes on a typical day, but only about 200 homes on a hot summer day in Texas.
Despite record-setting demand, power prices at the ERCOT North Hub, which includes Dallas, eased to a near two-week low of $86.50 per megawatt hour for Thursday from $87 for Wednesday. That compares with an average of $63 so far this year.
ERCOT forecast economic growth would boost peak demand to 77,317 MW this summer. The grid expects new wind and solar power plants added over the past year will increase resources available this summer to 91,392 MW.
(Graphic: Texas power demand to soar to record high this year Texas power demand to soar to record high this year, https://graphics.reuters.com/TEXAS-POWER/ERCOT/gkplgzymyvb/chart.png)
(Reporting by Scott DiSavino; Editing by Mark Potter)
