SRE - ERCOT asks Texans to limit electricity use with demand predicted to hit record

2023-06-20 17:56:16 ET

Texas' power grid asked residents to voluntarily reduce power consumption Tuesday evening due to extreme heat and an anticipated record demand.

The request by ERCOT, which serves most of the state's nearly 30M residents, was its first of the year to cut energy consumption.

The grid operator said it expects to have enough electricity generation to meet demand this week as temperatures likely will continue to hover near 100 degrees across Texas, although demand could push the grid to its limits during the hottest part of the day.

ERCOT forecasts electricity demand will climb to 81.2 GW by around 5 p.m. local time, which would surpass the all-time high set July 20, 2022.

Electricity prices for the highest demand hours quadrupled to more than $2,500/MWh compared with Monday.

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