Incredible Spike In Price Of Electricity In Texas Today – Unbelievable!!!

The weather story is having a big impact on companies and associated commodities today, but this may be the biggest move we’ve seen thus far.

In Texas, the price of electricity has surged as a result of the recent storm.

The rolling blackouts started Wednesday as a result of the weather, and have continued today, according to the Wall Street Journal.

But just what does that look like for energy markets? ERCOT (Energy Reliability Council of Texas) has seen on peak prices in its Northern Territory spike as high as $330.64 per megawatt hour today.

Just yesterday those prices were at $70. In the days before, they were trading between $34 and $45.

Gregory White | Feb. 2, 2011, 4:01 PM

Source: The Business Insider

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