Texas Electricity Shortage Predicted This Summer As Power Grid Strains To Its Limit
Texas Electricity Shortage Predicted This Summer As Power Grid Strains To Its Limit by: Daniel Jennings for Off the Grid News
An electrical grid operator has predicted a Texas electricity shortage this summer. In fact, utilities are forecasting record-high demand for electricity as the warmest months of the year draw closer.
Specifically, the record for statewide electricity usage in Texas is 73,473 megawatts, Reuters reports. A megawatt consists of one million watts of electricity and it can power as many as 1,000 homes under normal circumstances. Notwithstanding, the Electric Reliability Council of Texas (ERCOT) anticipates that Texans will use 74,853 megawatts of electricity this summer. ERCOT currently operates the electrical grid in the Lone Star State.
Texas Electricity Shortage Forecast For This Summer
Texas’s electricity supply is already at a historic low, ERCOT estimates. In particular, the reserve electricity which ERCOT uses during peak demands is historically low.
ERCOT blames the electricity shortage on a drop in the number of power plants available along with rising demand. For example, oil and gas drillers are using more electricity than in the past. Additionally, electricity prices paid to suppliers are dropping, thereby causing power plants to cut production.
Nonetheless, Texas’s population is still growing and this creates more demand for air conditioning on hot summer days. So, all it will take is simply one heatwave to cause a Texas electricity shortage this summer.
Moreover, lower electricity prices make it harder for power plants to make money. Coal-fired power plants, in particular, are having a difficult time in today’s market.
Big Business Is Cashing In On Electricity Shortages
Notably, big business is now cashing in on the potential for electricity shortages. In fact, Mitsubishi plans to sell a system that lets you power your house with electricity from an electric car.