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Council briefed on rising electricity demand and options to lock long-term rates
Summary
An energy-market presentation warned of rapid load growth in ERCOT and recommended the city consider contracting to lock rates beyond 2032 to protect against forecasted price spikes. Council asked about costs, customer impacts and infrastructure limits.
Council heard a technical briefing on electricity market forecasts and contracting options from a PIE Energy representative, introduced at the Nov. 18 meeting as Mr. Watson.
Watson summarized ERCOT forecasts showing rapid peak-demand growth driven by data centers, crypto mining and industrial loads and noted the city currently has portions of its supply hedged at roughly 5—7 and 6—7 cents through 2032. He presented forward-market scenarios and said a 7—7-per-kilowatt-hour range is one option to lock in rates for years…
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