June 20 (Reuters) - Day-ahead market (DAM) price settlements are projected to rise from anywhere between $1,867.88 to $2,544.44 between 3 p.m. to 8 p.m. Central Time across all hubs in Texas, according to data from the state's power grid operator on Tuesday.
The DAM provides a platform to hedge congestion costs in the day-ahead of the Operating Day, and instruments to mitigate the risk of price volatility in Real-Time, the ERCOT site says.
AccuWeather forecast temperatures in Houston, the biggest city in Texas, will hit 98.6 F (37 degrees Celsius) by 4 p.m., compared with a normal high of 93.2 F (34 degrees Celsius) for this time of year.
Actual system demand per data from the Electric Reliability Council of Texas stands at 63,744 MW as of June 19, 11:30 p.m., with the day-ahead demand for June 20 forecasted to peak at 80,954 MW by 4 p.m., topping the grid's previous record of 80,148 MW set on July 20, 2022.
Power prices at the ERCOT North Hub , which includes Dallas, stood at 20.90 megawatt hour from at June 20, 0:17 a.m.. That compares with an average of $78 in 2022 and a five-year (2018-2022) average of $66. (Reporting by Seher Dareen and Scott DiSavino; Editing by Kim Coghill)