Submitted by Doctor de Vaca
Goldilocks will not be pleased. Texas power prices infamously exploded higher during the frigid temperatures of the February winter storm that crippled so much of the state; and this time, amid blisteringly hot temperatures, Texas power prices are exploding higher once again as The Electric Reliability Council of Texas (ERCOT) asks Texans to reduce electric use as much as possible today through Friday, June 18.
One week ago, long before almost anyone else realized just how serious the situation in the plains states in general and Texas in particular would be as a result of the cascade of soaring nat gas prices, we warned that all hell was about to break loose. But not even we had any idea just how close to total collapse the system nearly was.
On Thursday, ERCOT officials said that the Texas power grid was “seconds and minutes” away from a catastrophic failure that could have left Texans in the dark for months. They should know: ERCOT is the entity that operates the power grid that covers most of the state.
