ERCOT overcharged power companies $16 billion for electricity during winter freeze, firm says
Mitchell Ferman, ERIN DOUGLAS, The Texas Tribune
March 4, 2021
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The Electric Reliability Council of Texas made a $16 billion error in pricing during the week of the winter storm that caused power outages across the state, according to a filing by its market monitor.
Potomac Economics, the independent market monitor for the Public Utility Commission of Texas, which oversees ERCOT, wrote in a letter to the Public Utility Commission that ERCOT kept market prices for power too high for nearly two more days after widespread outages ended late Feb. 17. It should have reset the prices
The Public Utility Commission of Texas rejects reversing a $16 billion error in ERCOT pricing during the week of the winter storm that caused power outages across the state.
Public Utility Commission of Texas rejects $16 billion ERCOT charge correction
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HOUSTON, Texas (KTRK) The state s regulator of electric utilities rejected a proposal to reverse $16 billion in power pricing during the week of the winter storm that caused power outages across the state.
Potomac Economics, the independent market monitor for the Public Utility Commission of Texas, which oversees ERCOT, wrote in a letter to the Public Utility Commission that ERCOT kept market prices for power too high for nearly two more days after widespread outages ended late Feb. 17. It should have reset the prices the following day.
PUC chairman Arthur D Andrea said the proposal would not accomplish what many people believed it would.
Texas power manager ERCOT overcharged companies by $16bn, threatening market stability msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
The Public Utility Commission of Texas, or PUC, does not plan to reverse the billions of dollars power companies were overcharged during last month’s winter storm.