His comments come after President Jair Bolsonaro, who roiled Brazilian markets by naming a new CEO for state-run oil company Petrobras, said his government would also "stick our finger into the electric sector," weighing on the sector's share prices.
Real-time wholesale market prices on the power grid operated by the Electric Reliability Council of Texas (ERCOT) have climbed as high as $11,000 per megawatt.
The surge reflects the real-time price of electricity and the cost of congestion and losses at different points across the grid.