Texas power regulator rejects request to cut $16 billion in charges during freeze Reuters 3/5/2021 By Gary McWilliams © Reuters/COOPER NEILL FILE PHOTO: Aftermath of power outages caused by winter weather in Fort Worth, Texas
By Gary McWilliams
HOUSTON (Reuters) - Texas state power regulator on Friday unanimously vetoed a request to cut about $16 billion from state power charges during the final day of the state s February cold snap, saying even a partial repricing could have unintended effects.
The Public Utility Commission deferred voting on a separate proposal to slice service fees that would have saved retail electric providers about $1.5 billion for power never provided. Both proposals were recommended by the state s independent power market adviser.
Texas power regulator rejects request to cut $16 billion in charges during freeze
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Texas power regulator rejects request to cut US$16 billion in charges during freeze
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HOUSTON (Reuters) - Texas’ state power regulator on Friday unanimously vetoed a request to cut about $16 billion from state power charges during the final day of the state’s February cold snap, saying even a partial repricing could have unintended effects.
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The Public Utility Commission deferred voting on a separate proposal to slice service fees that would have saved retail electric providers about $1.5 billion for power never provided. Both proposals were recommended by the state’s independent power market adviser.
Total electricity charges jumped by about $47 billion during a winter storm that knocked out nearly half of Texas power plants, hiking prices for gas and power that have roiled the state’s energy sector. Storm-related costs sent one company into bankruptcy and a dozen more face being unplugged from the state’s grid for non-payment.