The price hikes come as demand for electricity in the Lone Star State has soared in recent weeks.
The rate Texas residents pay for energy has skyrocketed in recent days, as hotter-than-usual temperatures cause demand for electricity to soaring across the state.
Texans were paying about $275 per megawatt-hour for power on Saturday then the cost rose more than 800% to a whopping $2,500 per megawatt-hour on Sunday, Bloomberg , citing data from the Electric Reliability Council of Texas . Prices so far on Monday have topped off at $915 per megawatt-hour.
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