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U.S. power and natgas prices spike in Texas and California heatwaves

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Reuters

(Reuters) -Power and natural gas prices in Texas and California spiked this week to their highest levels in months as homes and businesses cranked up air conditioners to escape brutal heatwaves. The Electric Reliability Council of Texas (ERCOT), which operates most of the state’s power system, urged consumers on Monday to conserve energy through Friday. The California ISO, which operates most of that state’s grid, told consumers to prepare to conserve energy if needed. Both grids have imposed rotating outages over the last year to avoid widespread collapses of their power systems – California …

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