Average Texas electricity prices were higher in February 2021 due to a severe winter storm

In February 2021, extreme winter weather affected energy supply and demand in Texas, resulting in higher electricity prices for some customers. According to preliminary data from EIA’s most recent Electric Power Monthly, the average February electricity price was higher for all customer sectors in Texas compared with the same time last year.

QUICK FACTS

• Texas is the top crude oil and natural gas producing state in the nation. In 2020, Texas accounted for 43% of the nation’s crude oil production and 26% of its marketed natural gas production.
• The 31 petroleum refineries in Texas can process almost 5.9 million barrels of crude oil per calendar day, which was 31% of the nation’s refining capacity as of January 2020.
• Texas leads the nation in wind-powered generation and produced about 28% of all U.S. wind-powered electricity in 2020. Wind power surpassed the state’s nuclear generation for the first time in 2014 and produced more than twice as much electricity as the state’s two nuclear power plants combined in 2020.
• Texas produces more electricity than any other state, generating almost twice as much as Florida, the second-highest electricity-producing state.
• Texas is the largest energy-producing and energy-consuming state in the nation. The industrial sector, including its refineries and petrochemical plants, accounts for half of the energy consumed in the state.