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.

  • lolcatnipEnglish
    11·
    9 months 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·
      9 months 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.

      • lolcatnipEnglish
        1·
        9 months ago

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

    • grue@lemmy.worldEnglish
      3·
      9 months ago

      Take a look at how the Georgia Public Service Commission is regulating the finances of the new nuclear reactors (Plant Vogtle 3 and 4) and then try to keep a straight face and tell me it’s working.