By: Jeff Zhou |
The Electric Reliability Council of Texas set multiple May peak demand records Tuesday afternoon, topping out over 67.2 GW and demand is expected to increase through the weekend.
The record, reached in the hour ending 5 pm CDT Tuesday, topped the previous record by 3.5 GW and Tuesday morning’s estimate by 1 GW. The previous May peak record was 63.7 GW, set on May 17.
ERCOT demand surpassed the previous record for three consecutive hours, reaching 64.8 GW between 2 and 3 pm CDT, 66.3 GW between 3 and 4 pm CDT and then 67.3 GW between 4 and 5 pm CDT to set a new record.
In the real-time market, prices across all hubs traded between the mid-$30s/MWh and low $90s/MWh for the three hours ending 5 pm CDT Tuesday.
CustomWeather said high temperatures in major cities across Texas were in the mid-90 degrees Fahrenheit on Tuesday, compared with seasonal norms in the low 90s, and are expected to hit the mid-90s to high 90s Wednesday through Friday.
The grid operator expects peakload across its footprint to reach 67.1 GW Wednesday, 67.8 GW Thursday and 67.9 GW Friday.
ERCOT’s final Seasonal Assessment of Resource Adequacy projected demand would peak this summer at 72.7 GW, compared with all-time high of 71.1 GW set in August 2016.