FERC examining wrongdoing in power markets during cold snap
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A map of Texas showing the state s transmission lines is a focal point in the control room of the Electric Reliability Council of Texas, which operates most of the state s power grid. (Ryan Holeywell/Houston Chronicle)Ryan Holeywell / Houston Chronicle
WASHINGTON - The Federal Energy Regulatory Commission announced Monday it would be examining power market activity over the last week for incidents of market manipulation as cold weather ravaged power grids in Texas and other states.
In Texas, the state s grid operator reported close to a third of power generators went offline due to the cold or weather-related fuel shortages, forcing widespread blackouts and causing wholesale power prices to spike to more than 300 times normal levels.
Summer power supplies could decrease electricity prices mrt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mrt.com Daily Mail and Mail on Sunday newspapers.
Summer power supplies could decrease electricity prices
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Consumers will likely see lower electricity prices heading into summer after the state-managed power grid signaled that supplies of electricity should be ample enough next summer yet not as robust as previously estimated.Ryan Holeywell / Houston Chronicle
Consumers will likely see lower electricity prices heading into summer after the manager of the state power grid signaled that supplies of electricity should be ample enough in summer though not as robust as previously estimated.
The Electric Reliability Council of Texas on Wednesday forecast a 15.5 percent summer power reserve margin, a measure of the cushion between expected supply and demand in the event of exceptionally hot weather, an unexpected spike in demand or unanticipated loss in generating capacity. The reserve margin is nearly 2 percentage points higher than ERCOT’s reserve margin goal of 13.75 percent.