Texas is being hit with record temperatures and escalating energy prices as cold weather has caused over 4 million customers to be without power and the Electric Reliability Council of Texas, the state’s independent system operator which manages about 90 percent of the state’s electric load, has found itself unprepared for the onslaught, losing wind turbines to icy conditions and gas lines to freezing temperatures. Furthermore, natural gas for heating homes and businesses is given priority over electrical generation and industrial supply needs, which limits natural gas supplies available to generating units.
