Wholesale electricity market prices are at all-time highs and have been in the $1000s of dollars per MWh all weekend. ERCOT.comVolatility and high prices are nothing new for the electricity wholesale market in Texas. This swath of high prices that span the state and have already lasted more than a day and are likely to last several more days is wholly new territory. Gas prices are up 5000% this week…When Texas electricity prices get this high, it is almost always (forever as I can remember) driven by scarcity pricing. That competition has driven natural gas demand through the roof, driving gas prices into the triple digits from $2.77 in a normal week to over $140 today (Waha Hub).

Source: Forbes February 14, 2021 23:30 UTC