Texas power use hits another record during heat wave

(Reuters) -Demand for power in Texas hit a record high on Wednesday for the second time this week and ninth time this summer as homes and businesses powered their air conditioners to escape a lingering heat wave.

After setting 11 new highs for demand last summer, the Electric Reliability Council of Texas (ERCOT) said power use hit a preliminary 83,961 megawatts (MW), which topped the most recent record of 83,854 MW on Monday.

ERCOT, which operates the grid for more than 26 million customers representing about 90% of the state’s power load, said it has enough resources available to meet current demand.

Energy analysts have highlighted that wind and solar power have helped ERCOT meet record demand so far this summer.

Texas residents have worried about extreme weather since a deadly storm in February 2021 left millions without power, water and heat for days as ERCOT struggled to prevent a grid collapse.

Day-ahead power prices are projected to rise more than $2,000 in most Texas Ercot hubs, according to the ERCOT website.

(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Sandra Maler and Grant McCool)