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Texas House Speaker Disagrees With Bill Senate Passed To Reverse ERCOT’s Overcharges Syndicated Local – CBS Dallas / Fort Worth
AUSTIN, Texas (CBSDFW.COM) – Texas House Speaker Dade Phelan disagreed with a bill passed quickly by the State Senate on Monday, to reverse billions of dollars in overcharges by ERCOT during last month’s widespread power outages.
The state says those outages are responsible for the deaths of 57 people across Texas.
In a statement Tuesday afternoon, March 16, Phelan expressed doubts about lawmakers changing ERCOT’s pricing during February’s winter storms.
“Repricing based on disagreement with PUC and ERCOT’s management decisions is an extraordinary government intervention into the free market, which may have major consequences for both residential and commercial consumers going forward.”
Investment expert: Undoing ERCOT overcharges would hurt Texas business reputation
Austin American-Statesman (TX)
Texas would damage its business-friendly reputation if state lawmakers retroactively lower prices for wholesale electricity to reverse billions of dollars in overcharges racked up during last month s weather emergency, a representative of an international investment exchange said Tuesday. Any such decision by this political process will forever define the open for business culture
Texas has worked diligently for decades to create, said
Chris Edmonds, global head of clearing and risk at
Intercontinental Exchange Inc.
Edmonds, speaking to the
House State Affairs committee, said the repercussions will go beyond the market for wholesale electricity by rattling investors in other
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.
Commercial property owners facing huge electricity bills are lining up with Texas consumers for relief
Office and retail landlords and other Texas business are being asked to sign a petition on Change.org asking the Texas Legislature to take action to reverse last month’s ‘price gouging.’
An Oncor electricity power plant at the corner of Altamesa Boulevard and Crowley Road in Fort Worth is shown during the February snowstorm and record-setting cold.(Omar Vega)
Commercial and residential customers in Texas holding high electric bills aren’t sure where they stand almost a month after freezing temperatures left behind a complicated mess.