Texas governor says businesses fleeing shutdown states
washingtontimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtontimes.com Daily Mail and Mail on Sunday newspapers.
Fed officials, new data, start lowering expectations for U S jobs in May
marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Some companies made a huge profit from the Texas blackouts Quartz 5/7/2021 © Provided by Quartz
For most Texans, the widespread blackouts after a winter storm this February were a nightmare. In addition to at least a hundred deaths, households and other electricity users in the state were forced to pay tens of billions of worth of electricity bills.
The state’s electricity market, unlike those in most US states, has relatively few guardrails against wild price swings. Those price spikes are intended to reward power companies that keep the power flowing when demand is high. After half the state’s power plants were knocked offline by freezing temperatures, electricity prices for those households that still had power went through the roof.