On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

  • Texas power prices soared 20,000% Wednesday evening amid another brutal heat wave.

  • Spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

  • The state’s grid operator issued its second-highest energy emergency, then later said conditions returned to normal.

  • lolcatnip@reddthat.comEnglish
    10·
    1 year ago

    In sane parts of the US, utility companies are technically private entities, but they’re related so much they pretty much operate like government agencies.

    • sploosh@lemmy.world
      12·
      1 year ago

      The big difference being a drive toward profit. Nationalizing energy production and distribution would be a slam dunk for everyone except the people at the top of these energy companies and their shareholders.

      • lolcatnip@reddthat.comEnglish
        1·
        1 year ago

        Probably. But the people who cry about socialism would be technically correct for once if that happened.