Texas Energy Prices Rise 1000%

Huge storms in Texas caused spikes in electricity use. In addition, the number of AI and Bitcoin mining operations is enormous. AI consumption is so tremendous that it is estimated that in five years, it will eat as much as the electricity needed for the entire nation of Japan. In short, Texas has started running out of electricity, as demand is at all-time highs. If the old supply and demand economics remain in play, electricity prices should skyrocket, and they are already.

Semafor states, “Texas energy prices briefly surged 1,600% as a forecast heat wave was expected to push air-conditioner use up.” Prices will not stay this high. Not all days will see electricity use near or above capacity. Semafor also reported that the rise in green energy in Texas, which is the highest among states, will mitigate this.

However, Texas will get hotter most summers, and AI energy use will soar to unanticipated levels. There will be battles between municipalities, states, and politicians over whether AI energy use should be regulated.

Energy prices may not rise 1000% in Texas each summer, even briefly, but they are on their way much higher.

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