Were regulators right to push power prices to the maximum in Texas?
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Yi-Chin Lee, Houston Chronicle / Staff photographer
With power generators knocked offline and outages rolling across Texas on Feb. 15, wholesale electricity markets in Texas presented a puzzle. Power was trading between $1,000 and $2,000 per megawatt-hour, a very high price, but not one that reflected the severe power shortages crippling the state.
That evening, the Public Utility Commission stepped in, ordering the state’s grid manager, the Electric Reliability Council of Texas, to declare a level three emergency and push wholesale prices to the maximum allowed, $9,000 per megawatt-hour, where they stayed for much of the next few days.
âWhat Happened Is Completely Unacceptableâ: Gov. Greg Abbott Calls For Winterization Of Texas Energy System
Abbott also blasted the Electric Reliability Council of Texas for its handling of the recent winter storm.
February 18, 2021, 7:25 PM
Gov. Greg Abbott called on state lawmakers to mandate the winterization of generators and power plants, a proposal previously floated but not implemented by state leaders in the aftermath of another devastating winter storm in 2011.
Gov. Greg Abbott on Thursday blasted the nonprofit operator of Texas energy grid for its handling of this week s winter storm and called on the Legislature to consider updates to the state s power plants to avoid future widespread power outages.
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People walk along Blanco Road as a brisk snow falls on Thursday morning.Billy Calzada / staffShow MoreShow Less
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A person takes a picture of his dog Thursday in Alamo Heights as snow returns to San Antonio.William Luther /William LutherShow MoreShow Less
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People wait in line to enter the H-E-B at West Avenue and Blanco Road as a brisk snow falls on Thursday morning.Billy Calzada /Billy CalzadaShow MoreShow Less
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A man walks along Blanco Road as snow falls on Thursday morning.Billy Calzada /Billy CalzadaShow MoreShow Less
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A man buys propane at the H-E-B at West Avenue and Blanco Road as a brisk snow falls on Thursday morning, Feb. 18, 2021.Billy Calzada, Staff / Billy CalzadaShow MoreShow Less
What happened is completely unacceptable : Gov Greg Abbott calls for winterization of Texas energy system kxxv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kxxv.com Daily Mail and Mail on Sunday newspapers.
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People walk along Blanco Road as a brisk snow falls on Thursday morning.Billy Calzada / staffShow MoreShow Less
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A person takes a picture of his dog Thursday in Alamo Heights as snow returns to San Antonio.William Luther /William LutherShow MoreShow Less
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People wait in line to enter the H-E-B at West Avenue and Blanco Road as a brisk snow falls on Thursday morning.Billy Calzada /Billy CalzadaShow MoreShow Less
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A man walks along Blanco Road as snow falls on Thursday morning.Billy Calzada /Billy CalzadaShow MoreShow Less
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A man buys propane at the H-E-B at West Avenue and Blanco Road as a brisk snow falls on Thursday morning, Feb. 18, 2021.Billy Calzada, Staff / Billy CalzadaShow MoreShow Less