Disappearing wind and solar cost Texans an additional $766 million in just 17 hours during Winter Storm Fern. The Electric Reliability Council of Texas (ERCOT) Region has increasingly relied on weather-dependent resources, with no net dispatchable capacity added to the grid since 2003.

Relying on wind and solar has consequences. During Fern, as electricity production from wind and solar declined, wholesale prices spiked as high as $1,832/MWh in the day-ahead market, costing Texans an additional $766 million compared with baseline power costs. If ERCOT had 10 GW more natural gas on the grid during Fern, AOER’s analysis shows that Texas families and businesses would have saved $1.34 billion in wholesale power costs.

Check out AOER’s full issue brief about the financial fallout from Winter Storm Fern.