Texas power spikes set tone for summer

Surging wholesale power prices in the ERCOT region may set the tone for a summer of skyrocketing costs, say analysts.

According to the Electric Reliability Council of Texas (ERCOT), power demand in the state has been running 24% higher than year-ago levels for the last week in May.

ERCOT was set to meet on Friday to discuss market conditions which have caused the financial collapse of three power retailers in the past month. Balancing-energy market prices in ERCOT's four market zones have ranged from negative territory in the wind-powered west to the market cap of $2,250 per megawatt-hour and even higher during

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