Record high power demand could bring higher electricity prices, brown-outs across Texas
Power forecasts from ERCOT are indicating Texas could see historic high demand and even higher prices for electricity this summer thanks to a state-wide heat wave. The Electric Reliability Council of Texas saw six consecutive electricity-usage records from July 16th to 19th. August 2016 was the last time such high levels of power were used.
Retail prices have soared in anticipation of hot weather, potential power shortages and spikes in wholesale electricity pricing. Early Thursday afternoon, prices throughout the state averaged $30 to $50 per megawatt hour (MWh), rising to $194/MWh on Friday.
The increase in retail rates come as companies prepare for surging prices in the wholesale electricity markets where they buy their power. Forecasts of higher than normal temperatures and record power demand are coinciding with the shutdown of at least three coal-fired plants, leading to concerns that temporary shortages on the hottest summer days could send wholesale prices spiking to $3,000 per MWh or higher.
With plenty of hot weather to come, officials expect more electricity-usage records to be broken before the summer is over. ERCOT is projecting a summer peak of 72,756, which assumes normal weather. That would be about 1,600 megawatts higher than the record set in August 2016.
Consumer advocates recommend that consumers lock in power plans with fixed costs so they don’t have to worry about wholesale power price surges. Going solar locks you into the lowest cost of power, forever. Adding solar panels to your home not only allows you to produce your own electricity and save money, studies show solar powered homes stand out, sell faster, and at a premium.
ONCOR Issues Limited Power Supply Warning
On Thursday, July 19th ONCOR sent out a request to its customers warning about power reliability issues and possible brown-outs. The notice asked that customers conserve power by turning up the thermostat, using less air conditioning, and drying clothes earlier in the day.
Solar Panels Help Peak Power Demand, Utilities Offering Cash Rebates
Many electric utilities across Texas offer solar rebates & incentives to encourage customers to produce their own electricity with solar panels.
Energy created from solar is energy that does not have to come from power plants that feed the grid. This is especially important during periods of ‘peak demand’ like the scenario Texas is currently facing this summer (see above).
Save Money On Power Bills With Solar Panels In Texas
Alba Energy is proud to be one of the premier solar installers in Texas with offices throughout the state. Learn more about saving with a solar panel installation on your Katy home by contacting us for a free solar energy consultation.
Alba Energy’s SMART Solar Financing means you can POWER your home with solar panels, pay LESS on electricity bills, and contribute to a CLEAN energy future. Request a FREE solar consultation today!