this post was submitted on 16 Sep 2023
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Texas power prices soar 20,000% as brutal heat wave sets off emergency (markets.businessinsider.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Texas power prices soar 20,000% as brutal heat wave sets off emergency::On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

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[–] ChaoticEntropy@feddit.uk 7 points 1 year ago

It doesn't seem like a very "free" market with lobbyists, subsidies, and pet politicians propping up the establishment entities in every corner of the market. Too big to fail and all that.