The Texas power grid has had a volatile few years. As temperatures in the Lone Star State soared earlier this summer, power prices spiked to nearly $5,000 per megawatt-hour. However, that eye-watering price tag paled in comparison to what happened after Winter Storm Uri in February 2021, when per-MWh prices hit a staggering $9,000. The Electric Reliability Council of Texas (Ercot) has a grid structure unlike any other in the US, but equally unique are some of its solutions for handling grid flexibility. On today’s show, Dana speaks with Thomas Rowlands-Rees, BNEF’s Head of Research for North America, and BNEF Associate for US Power Nathalie Limandibhratha. Together they discuss the way ERCOT operates, how Bitcoin mines are impacting grid flexibility and the state’s growing renewable energy rollout.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

Texas Is Sizzling, But Renewables Keep Power Prices Cool

Ercot Market Outlook: Everything Depends on Bitcoin