Utilities Up On Defensive Bias -- Utilities Roundup

02/23/2021 | 05:35pm

Shares of power producers rose as investors sought out defensive sectors in light of wild swings on global stock markets.

Wholesale power prices on Texas' main power grid hit the ceiling price of $9,000 per megawatt hour for parts of five straight days. That was exponentially higher than the average price, which was $21.18 per megawatt hour in 2020, according to the Electric Reliability Council of Texas, or Ercot, the nonprofit that controls the grid.

Meanwhile, the number of people who perished from hypothermia and other causes during the winter storm will take months to tally, The Wall Street Journal reported.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

02-23-21 1734ET

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