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Power Trader Challenges New Texas Grid Policy Over Price Spikes

(Bloomberg) -- A power trader is challenging Texas regulators over a new policy he says led to billions of dollars in higher wholesale electricity prices.Most Read from BloombergMusk Says Putin Can’t Lose in Ukraine, Opposes Senate BillS&P 500 Set for Worst CPI Day Since September 2022: Markets WrapPutin Seeks Revenge on a World Order He Once Wanted to JoinRetail Traders Are Losing Billions in India’s Booming Options MarketTrump Asks Supreme Court to Keep DC Election Trial on ...
United States Bloomberg Businessweek Greg Abbott Chrysta Casta Public Utility Commission Of Texas Democrat For The Texas Railroad Commission
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Griddy Argues It Was, in Fact, a Champion of Consumers

Illustration by Texas Monthly; Getty Not long before Valentine’s Day, Pat Wood III got a text message from Griddy Energy, his electric provider, warning that extremely cold weather was about to wreak havoc on the electricity market in Texas. “Prices are looking to stay at record rates over the next couple of days due to the polar vortex,” the notice read. “Unless you are a Griddy energy-saving expert, we recommend you immediately switch to another provider.” Wood followed the company�...
United States Mont Belvieu Andrew Barlow Georgew Bush Marcie Zlotnik Ken Paxton

Texas's Power Market Is $1.3 Billion Short After Energy Crisis

Publishing date: Feb 26, 2021  •  February 27, 2021  •  3 minute read  •  Article content (Bloomberg) — Texas’s grid operator needs to come up with $1.3 billion to pay power plants for energy they supplied during last week’s historic blackouts, raising the prospect it may require a state bailout. The Electric Reliability Council of Texas, which manages most of the state’s grid, said it’s still waiting on more than $2 billion in payments from retail power providers and ot...
United States Mark Chediak Catherine Traywick Davidr Baker Adam Sinn Terry Naulty

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