5 Min Read
HOUSTON (Reuters) - The Texas attorney general on Wednesday said state law allows the utilities regulator to cut billions of dollars from storm-inflated electric bills, an endorsement that came hours after the ouster of the regulator who opposed retroactive cuts.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura/File Photo
The drive to reverse $4.1 billion in emergency prices gained momentum after a magazine published inflammatory comments by Public Utility Commission Chair Arthur D’Andrea. In a March 9 call with Bank of America analysts and investors, he said he “tipped the scale” to protect utility profits. He also minimized the financial pain caused by storm pricing to municipal power companies.
5 Min Read
HOUSTON (Reuters) - The Texas attorney general on Wednesday said state law allows the utilities regulator to cut billions of dollars from storm-inflated electric bills, an endorsement that came hours after the ouster of the regulator who opposed retroactive cuts.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura/File Photo
The drive to reverse $4.1 billion in emergency prices gained momentum after a magazine published inflammatory comments by Public Utility Commission Chair Arthur D’Andrea. In a March 9 call with Bank of America analysts and investors, he said he “tipped the scale” to protect utility profits. He also minimized the financial pain caused by storm pricing to municipal power companies.
By Reuters Staff
3 Min Read
(Reuters) - The leader of the Texas House of Representatives on Tuesday signaled he would not support requiring the state’s grid operator to cut billions of dollars from electricity pricing during a cold snap that upended the state’s power market.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura
On Monday, the state Senate approved a proposal to order the state Public Utility Commission (PUC) to reduce electricity costs on power marketers during a February deep freeze. The proposal would reduce charges by about $5.1 billion including $900 million in fee cuts already approved by the PUC.
The Texas state Senate approved a bill on Monday to cut about $5.1 billion in disputed electricity and service fees levied on power marketers during a winter freeze that sent the state's power market into financial crisis.
The leader of the Texas House of Representatives on Tuesday signaled he would not support requiring the state's grid operator to cut billions of dollars from electricity pricing during a cold snap that upended the state's power market.