In February 2021, winter storm Uri hit Texas, causing a sharp spike in electricity demand that could not be satisfied by available generation resources, resulting in statewide.
Texas Justices on Tuesday pressed Luminant Energy Co. LLC on whether the Public Utility Commission of Texas is forced to maintain competitive pricing above electric grid reliability even in cases where the state is facing living "in the Stone Ages" as it weighed whether to uphold two of the commission's pricing orders during winter storm Uri in 2021.
Power producers including Exelon Generation Co. LLC and Luminant Energy Co. LLC are urging the Texas Supreme Court to uphold a ruling that invalidated two emergency pricing orders the Public Utility Commission of Texas issued during winter storm Uri, saying the lower court correctly concluded the regulator has no such authority to set electricity prices.
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A Texas appellate court on Wednesday considered whether the Public Utility Commission of Texas overstepped its authority when it decided in February 2021 to max out energy prices in an effort to encourage more electricity production as the state dealt with the aftermath of a deadly winter storm.