The blackouts that hit Texas earlier this year caused billions of dollars in debt for some utilities when natural gas prices skyrocketed. That s led to lawsuits over alleged price gouging.
Transcript
SACHA PFEIFFER, HOST: The breakdown of the Texas power grid during a severe storm in February caused havoc in the state s energy markets. Now there are charges of manipulation against some big energy companies. Moses Buchele of member station KUT in Austin reports.
MOSES BUCHELE, BYLINE: The days leading up to February s big freeze were nerve-racking for CPS Energy, San Antonio s city-owned utility. Demand for electricity and heating would be huge. To prepare, the utility had to make sure it had enough electricity contracted and enough natural gas to supply its customers and fuel its own power plants. But then something else started happening, says CEO Paula Gold-Williams.
We are fighting to protect our customers : CPS Energy files lawsuit against ERCOT kiiitv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kiiitv.com Daily Mail and Mail on Sunday newspapers.
The San Antonio utility announced the suit alongside Mayor Ron Nirenberg Friday. Author: KENS 5 Staff (KENS 5) Published: 1:39 PM CST March 12, 2021 Updated: 4:39 PM CST March 12, 2021
SAN ANTONIO CPS Energy filed suit against the Electric Reliability Council of Texas (ERCOT) in Bexar County District Court. They say the suit is to protect its customers from excessive, illegitimate and illegal prices.
“CPS Energy is taking this action to defend its customers. Those who suffered the consequences of ERCOT’s failure must not be victimized by one of the largest illegal transfers of wealth in the history of Texas, too,” said San Antonio Mayor Ron Nirenberg. “Ensuring the fair treatment of customers and preventing them from additional harm by outrageous, excessive charges is essential, and we are fighting to achieve that goal.”
CPS Energy Trustees met today to discuss the aftermath of the winter storm. Author: Vanessa Croix Updated: 7:49 PM CST March 1, 2021
SAN ANTONIO CPS Energy Trustees met Monday afternoon in a phone conference to talk about the effects of the winter storm and how to move forward.
During the pandemic, CPS Energy stopped disconnecting service for people who were behind in paying their bills.
In the meeting, Chief Financial Officer, Gary Gold, said the past due balances accrued during the pandemic have been growing at an average of $8 million a month since the summer of 2020.
Leaving the power company with a financial hit, Gold said there’s over $90 still owed from customers.
EPRI President Joins National Energy Thought Leaders to Underscore Importance of Research and Innovation for Energy Transition Under Biden
News provided by
Share this article
Share this article
WASHINGTON, Dec. 23, 2020 /PRNewswire/ Electric Power Research Institute (EPRI) President and incoming CEO Dr. Arshad Mansoor last week shared a sobering assessment of the rate and scale of economy-wide decarbonization in the U.S. and detailed the central roles that science, research, and innovation must play in the Biden administration s energy and climate agenda.
2 emissions from six gigatons in 2005 to five gigatons in 2020 is an achievement, but that clearly, we [the U.S.] have to accelerate because if it takes us 15 years to take one gigaton out, it will take us a long, long time to get to zero.