Last week our members averaged 8.3 ₵/kWh for the week while the average Texan paid 11.4 ₵/kWh – more than 35% higher. There were two price spikes at 5:35 pm and 5:45 pm on Saturday, January 12 due to wind generation dropping off sharply. Prices hit 40₵/kWh for 5 minutes and then 33₵/kWh for another 5 minutes before gas-fired generators ramped up and the price quickly corrected. Other than that, it was a very quiet week in the Texas wholesale electricity market.
Weather was very mild last week with highs in the 70s and lows in the mid-40s in both Houston and Dallas. Expect more of the same this week with a little bit of rain coming to Houston mid-week.