"A heatwave will test the Texas power system again this week after power plant failures late Friday caused prices to spike, forcing the grid operator to urge homes and businesses to turn up their air conditioner thermostats to conserve energy.

The Electric Reliability Council of Texas (ERCOT), which operates the grid for most of the state, said conditions were normal early Monday and has said repeatedly that it expects to have enough resources to meet demand.

On Friday, real-time prices in ERCOT topped $4,000 per megawatt hour (MWh) for about an hour around 5 p.m. CDT after six power plants shut unexpectedly. read more

But as the units returned to service, real-time prices have remained below $100 since around 10 p.m. on Friday."

Scott DiSavino reports for Reuters May 16, 2022. [2]