Talk about sticker shock! The impact of the Arctic temperatures in Texas led to a dramatic impact on the checkbooks of some of the state’s utilities.
As Reuters reported, the spot price of wholesale electricity on the Texas power grid spiked more than 10,000% on Monday. Wholesale market prices on the grid operated by the Electric Reliability Council of Texas soared to more than $9,000 per megawatt hour at one point.
Click here for the Reuters story.