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Austin American-Statesman
Blackouts have ended, but the financial fallout from the recent calamity on the state s power grid is still spreading.
The three main providers of electricity to retail customers in the Austin area Austin Energy, Pedernales Electric Cooperative and Bluebonnet Electric Cooperative all have said their customers won t experience near-term jumps in electricity rates as a result of the historic winter storm that knocked many generators offline during the week of Feb. 15 and triggered huge price increases for wholesale electricity and natural gas.
The long-term outlook for local rates isn t so certain, however, because the statewide ramifications of the breakdown on the power grid overseen by the Electric Reliability Council of Texas aren t yet clear.
AUSTIN, Texas — About $16 billion in overcharges for wholesale electricity racked up because of a pricing error during the massive failure of the state s power grid last month won t
A firm hired to monitor Texas’ power markets says the region’s grid manager overpriced electricity for almost two days during last month’s energy crisis, resulting in $16 billion in overcharges.