Texas Calls for Energy Conservation After Six Power Plants Fail

by | May 13, 2022 | Business

Article content (Bloomberg) — The Texas grid operator called on residents to conserve energy Friday after six generation facilities tripped offline amid hot weather, prompting power prices to spike. The power plant failures resulted in a loss of about 2,900 megawatts of electricity, the Electric Reliability Council of Texas said in an email statement Friday. That’s enough power for about 580,000 homes and businesses. Houston spot power prices briefly spiked above the $5,000 a megawatt-hour price cap at about 5 p.m. local time with the rest of the grid topping $4,000, according to Ercot’s website. All reserve generation resources are operating, said Brad Jones, Ercot’s interim chief executive officer, in the statement. ©2022 Bloomberg L.P. Bloomberg.com

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