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Ercot Still Short $1.3 Billion in Energy Payments: Texas Update Bloomberg 2/26/2021 Mark Chediak, David Wethe, Joe Carroll and Naureen S. Malik (Bloomberg) -- A second day of marathon hearings on Texas’s unprecedented energy crisis raised concerns about the liquidity of the state’s power market, and who will ultimately pay for the disaster as some companies face bankruptcy. Several utilities told Texas lawmakers Friday that they were still awaiting payment from the grid operator, known as Ercot, for power they provided during the grid emergency, with at least one worryin...

AP Photo/Eric Gay AUSTIN, Texas (AP) — The catastrophic Texas blackout was a wider failure than the state's power grid, which teetered on the brink of an even bigger collapse during a freeze that knocked out electricity to 4 million customers, energy executives said Thursday. One CEO said he sounded warning days before what became one of the worst power outages in U.S. history, including to the office of Republican Governor Greg Abbott, whose regulatory appointees came under sharp criticism during the first investigative hearing since last week's crisis. Leaders of other power companies sai...

The testimony offered a troubling new look at how quickly America’s energy capital ran out of energy. Curtis Morgan, the CEO of Vistra Corp., told lawmakers at the outset that the blackouts affected plants that could have generated more power that was urgently needed. He said when officials from his company called utility providers, they were told they weren’t a priority. “How can a power plant be at the bottom of the list of priorities?” Morgan said. “You-know-what hit the fan, and everybody’s going, ‘You’re turning off my power plant?’” he said. At least 40 people in Tex...

Article content (Bloomberg) — Texas lawmakers are grilling power executives, regulators and others for a second day about why the state’s energy system failed last week. So far the hearings have led to plenty of finger-pointing but few clear answers about how to prevent a similar crisis in the future. Executives from Calpine Corp., Vistra Corp. and NRG Energy Inc. blamed natural gas-supply shortages, grid disturbances and a lack of communication from the grid operator known as Ercot. Ercot, meanwhile, said it simply followed the rules and direction set by the state’s Public Utility Comm...

Publishing date: Feb 26, 2021  •  February 26, 2021  •  4 minute read  •  Article content (Bloomberg) — Texas lawmakers are grilling power executives, regulators and others for a second day about why the state’s energy system failed last week. So far the hearings have led to plenty of finger-pointing but few clear answers about how to prevent a similar crisis in the future. Executives from Calpine Corp., Vistra Corp. and NRG Energy Inc. blamed natural gas-supply shortages, grid disturbances and a lack of communication from the grid operator known as Ercot. Ercot, meanwhile, s...