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   From: nowomr@protonmail.com   
      
       Electricity prices in Texas soared 6,000% as a fresh heat wave   
       threatens to break records. Spot prices rose from an average of $75 on   
       Wednesday to $4,750 per megawatt-hour on Thursday afternoon. An   
       extreme heat warning has been issued for North Texas, where   
       temperatures could reach 110 degrees.   
      
      
      
   Electricity prices in Texas soared 6,000% on Thursday as a fresh heat wave   
   is expected to break temperature records in the coming days.   
      
   Spot electricity prices rose from an average of $75 Wednesday afternoon to   
   $4,750 per megawatt-hour Thursday afternoon, according to data from grid   
   operator Electric Reliability Council of Texas (ERCOT) cited by Bloomberg.   
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   At that level, the price edged closer to the $5,000 range and hit its   
   highest level in more than five weeks, the report said.   
      
   The price hike came as an extreme heat warning was issued for North Texas,   
   which includes the Dallas-Fort Worth area.   
      
   The warning for the area will be in effect through Sunday night and high   
   temperatures are expected to be between 105 and 113 degrees during that   
   period.   
      
   This summer saw severe heat waves across Texas and large parts of the US,   
   as well as Europe and other parts of the Northern Hemisphere. In June,   
   electricity prices in Texas doubled in a single day from earlier   
   record-breaking highs.   
      
   Texas’ electricity market is deregulated and based on its own electricity   
   grid. But although it has seen a massive spike in demand this summer,   
   supply has remained stagnant despite reaching a record high of 85.5 GW on   
   Thursday.   
      
   This is partly due to gains in renewable energy. According to ERCOT, Texas   
   generated about 40% of its electricity last year from natural gas, with   
   wind accounting for about 25% and solar power also contributing.   
      
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