Texas heat wave spurs power prices to their highest since 2021 freeze

Texas power prices have reached a 30-month high due to a scorching heatwave, with demand expected to break records. The state grid operator, ERCOT, has urged consumers to conserve energy to reduce demand. Prices at the ERCOT North Hub soared to $1,599 per megawatt hour (MWh) for Friday, the highest since the February freeze.