Texas power demand breaks May record again as prices soar in heat wave
-Power demand in Texas broke the record for the month of May for a second time this week on Friday as prices soared ahead of the U.S. Memorial Day long weekend with homes and businesses cranking up their air conditioners to escape a heat wave.
ERCOT projected usage would break that new record on Monday, Memorial Day, when it forecasts a peak above 76,500 MW.Analysts expect ERCOT electric use will top that all-time high this summer with economic and population growth in Texas and demand for power from data centers, artificial intelligence and cryptocurrency mining rising fast.
That compares with an average of $31 per MWh so far this year, $80 in 2023 and $66 over the prior five years . That comfortable level of supply is higher than ERCOT forecast earlier on Friday and assumes nothing changes.
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