California Storm Causes Massive Power Outage

A California storm caused a power outage affecting over 500,000 customers, leading to base power prices reaching $63.35 per MWh. PG&E logged about 500,000 customers without power and had restored electricity to more than 565,000 customers. California Governor Gavin Newsom declared a state of emergency in eight counties with a combined population of over 20 million people. Flash flood warnings were issued for parts of Los Angeles, Santa Barbara, and San Luis Obispo counties due to the city's third wettest day for the month of February since 1877.