In a press release statement, ERCOT President Bill Magness said, “The ERCOT market has experienced a series of new peak demand records over the last few years as Texas’ economy continues to grow at record pace.”
High-voltage power lines carry electricity. (credit: David Silverman/Getty Images)
The Electric Reliability Council of Texas on Thursday attributed the expected record peak usage this summer to the strong Texas economy. It blames the tight reserve generating capacity to the recent retirement of older generating units on the grid.
Magness says ERCOT expects its wholesale market will provide strong financial incentives for generators to be available when demand increases. However, he said ERCOT also expects voluntary load productions and an increase in power sold in the market by industrial facilities that generate their own power.
(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)