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March 17, 2021 While many Texans last week were worried about sky-high electric bills from February’s winter storms, the state’s sole utility commissioner was privately reassuring out-of-state investors who profited from the crisis that he was working to keep their windfall safe. Texas Monthly has obtained a recording of a 48-minute call on March 9 in which Texas Public Utility Commission chairman Arthur D’Andrea discussed the fallout from the February power crisis with investors. During that call, which was hosted by Bank of America Securities and closed to the public and news media, D’Andrea took pains to ease investors’ concerns that electricity trades, transacted at the highest prices the market allows, might be reversed, potentially costing trading firms and publicly traded generating companies millions of dollars.

United statesGregory craigKen paxtonMichael fallquistArthur dandreaGreg abbottPublic utility commissionGriddy energyTexas public utility commissionReliability council of texasArthurd andreaAmerica securitiesTexas two stepGovernor greg abbottWinter stormChief executive officer michael fallquist