Volatile ERCOT Market Means Higher Electric Bills for NBU Customers

new braunfels utilities building
Image courtesy of New Braunfels Utilities.

Extreme volatility in the Electric Reliability Council of Texas (ERCOT) market will result in an 8.4% increase in September electric bills for New Braunfels Utilities (NBU) customers.

In a statement Thursday, NBU said Texas’ decision to prioritize electric reliability over affordability is the reason for the price hike.

An average customer that uses 1,200 kilowatt-hours (kWh) in September 2023 will see a $12 increase in their electric bill.

Starting Friday, the utility will shift to monthly power-cost forecasting instead of quarter forecasting and will post future updates about rates here.

“The ERCOT market has experienced increased load growth (electricity use) and all-time high demand driven by extreme record-setting heat conditions throughout Texas since June,” NBU said. “Compounded with the market redesign and more conservative grid operations results in more expensive power.”

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