Texas power grid changes cost the state millions in the first five months of 2022
TEXAS, USA — Recent Texas power grid changes intended to prevent a crisis like what the state experienced in February 2021 have cost $685 million to $860 million for just the first five months of this year, according to a report from KVUE's media partners at the Austin American-Statesman.
The Electric Reliability Council of Texas (ERCOT) contributes to this cost estimate through its increased acquirement of reserve power within the state's electric grid, which ERCOT operates. ERCOT is also working to make such power available quicker.
Another factor in the cost estimate is the effects of policy changes that push for a quicker online connection among more generators and an initial increase in wholesale electricity costs, according to the Statesman.
The Statesman reports that Carrie Bivens, ERCOT's independent market monitor, estimated the million-dollar prices by valuing increased reserve purchases from Jan. 1 to May 31 at $210 million to $385 million. She valued "the impact of the policy-induced changes to wholesale prices at about $475 million over that time."
https://www.kvue.com/article/news/local/texas/texas-power-grid-changes-cost-millions/269-eae8f42c-8cc7-4310-9a01-ef5944758dba