Texas has a unique set of factors that has made some companies call it the fastest-growing market for power demand.
HOUSTON — Electricity demand in Texas could double by 2035, and Houston is likely to see increased prices because of it.
While many parts of the country are experiencing increases in demand, Texas has a unique set of factors that has made some companies call it the fastest-growing market for power demand.
Besides potential data center growth, Texas is seeing a large amount of population and industrial growth, and with added electricity needs from oil fields in West Texas, power demand is skyrocketing — along with prices.
Ramanan Krishnamoorti, vice president of energy innovation at the University of Houston, told the Houston Business Journal that while residential power prices have typically kept up with inflation, they’ve been growing faster than inflation over the past few years.
He added that industrial power prices have actually been growing slower than inflation.
This story came to us through our partnership with the Houston Business Journal. Keep up with the latest Houston business headlines here.
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