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Texas utility regulator ousted after comments to investors disclosed

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. ....

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Griddy: Texas AG says more than $29 million in unpaid electric bills will be forgiven as he sues Griddy Energy

Griddy: Texas AG says more than $29 million in unpaid electric bills will be forgiven as he sues Griddy Energy
CNN
4 days ago
By Keith Allen, CNN
© TNS/Austin American-Statesman/Sipa USA
Texas Attorney General Ken Paxton. (Photo by Nick Wagner/Austin American-Statesman/TNS/Sipa USA)
The Texas attorney general says a lawsuit he filed against the energy company Griddy will keep about 24,000 Texans from having to pay $29.1 million in unpaid bills related to last month s winter storms.
My office sued Griddy Energy, under the Texas Deceptive Trade Practices Act, to hold them accountable for their escalation of last month s winter storm disaster by debiting enormous amounts from customer accounts as Texans struggled to survive the storm, AG Ken Paxton said Tuesday in a statement. ....

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Texas utility regulator ousted after comments to investors ...

Regulator said he tipped the scale to avoid power-price cuts
State AG says electricity repricing likely upheld in court (Adds AG opinion on repricing, officials react, PUC no comment)
By Kanishka Singh and Gary McWilliams
March 17 (Reuters) - The third and last remaining commissioner of the Texas utilities regulator resigned under pressure on Tuesday after the release of comments to investors vowing to protect utility profits and dismissing financial hits from a cold snap on municipal power companies.
The resignation came soon after the disclosure of inflammatory comments by the Public Utility Commission Chair Arthur D Andrea in a March 9 call with Bank of America utilities analysts. The call took place two days before he was to consider rescinding billions of dollars payment to utilities and included him boasting of his job security. ....

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More Blackout Fallout: New Texas PUC Chair Resigns

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More Blackout Fallout: New Texas PUC Chair Resigns
Arthur D’Andrea, the chair of the Texas Public Utility Commission (PUC), who took the post just two weeks ago, has resigned. D’Andrea was the only remaining PUC commissioner and is the latest state official to decamp their position in the wake of a deadly winter storm in February that overwhelmed Texas’ energy infrastructure.
Texas Gov. Greg Abbott, who appointed D’Andrea to the chairman’s post after the resignation of former chair DeAnn Walker, said in a statement late on March 16 that he asked for and received D’Andrea’s resignation, which leaves the regulatory agency devoid of members. ....

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Texas' Last Power Regulator Resigns After Crippling Blackouts

Texas' Last Power Regulator Resigns After Crippling Blackouts
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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