As Texas baked in a heat wave that caused power demand to surge to record highs, Victoria appeared to be awash in low energy prices.
At least, that’s what it looked like on one map charting real-time prices Aug. 13 at certain locations across the state. The prices are recalculated at 15-minute intervals.
Contrary to a recent Bloomberg report claiming Crossroads plants were “basically giving the stuff away for free,” John Packard, manager of power supply at South Texas Electric Cooperative, said he was selling power at upward of $8,000 per megawatt hour for most of the day.
That is less than the $9,000 price tag across most of the state, but it’s still about 800 times as expensive as normal Texas summer power prices.