Texas Spot Power Drops to 7-Week Low as Storm Cuts Demand
Texas spot wholesale electricity slid to a seven-week low after a stormy weekend across the state flooded Houston and left tens of thousands of customers without lights.
Power use on the grid managed by the Electric Reliability Council of Texas Inc. was about 5 percent lower than the day-ahead forecast from 11 a.m. to 1 p.m. local time, according to the operator’s website.
CenterPoint Energy Inc., which distributes electricity to more than 2.2 million customers in Houston and nearby areas, reported that 50,155 customers were without power as of 12:58 p.m. Texas utilities operated by Entergy Corp. and Energy Future Holdings also reported outages.
