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.

  • TurtleJoe@lemmy.world
    47·
    1 year ago

    I’m with the commies on this one. We need to nationalize utilities like energy distribution. No reason to have a profit seeking entity in charge of necessities like electricity.

    • lolcatnip@reddthat.comEnglish
      11·
      1 year 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·
        1 year 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.

        • lolcatnip@reddthat.comEnglish
          1·
          1 year ago

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

      • grue@lemmy.worldEnglish
        3·
        1 year 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.