Texas Power Prices to Surge 800% on Sunday Amid Searing Heat

Texas power prices for Sunday surged more than 800% as searing heat pushes demand toward record levels and strains supplies on the state grid.

Electricity prices for the grid rose to more than $2,500 a megawatt-hour for Sunday evening, up from Saturday’s high of about $275, according to data from the Electric Reliability Council of Texas, the grid operator. The surplus of available power capacity on the grid versus power consumption will narrow to 1.6 gigawatts in the hour ending at 6 p.m. Sunday, a level that can trigger emergency responses, though Ercot has additional reserves it can tap to ...