“Texas power demand set a winter record last week as a cold snap drove temperatures into the single digits. Between 7 p.m. and 8 p.m. on February 2, 2011, power demand in Texas reached an all-time winter high of 56.3 gigawatts (versus a more typical 30 gig to 40 gig) and wholesale power prices reached a (temporarily raised) cap of $3,000 per megawatt hour. Texas grid operators implemented rolling blackouts to prevent a catastrophic shutdown. Grid operators faced a double whammy: as demand soared, supply dropped.”