ERCOT raising energy prices, blaming high demand during winter storm

Austin, TEXAS (KOSA) – On top of cutting the power to tens-of-thousands of people across the Permian Basin this week, ERCOT now says it will raise electricity prices.

Demand for power has surpassed what the state can offer due to historically low temperatures.

The Public Utility Commission of Texas held a meeting Monday, in the middle of the storm, and introduced an order telling ERCOT to hike energy prices, according to KVUE-TV in Austin.

“Energy prices should reflect scarcity of the supply,” the order said.