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By Bob Smith, Sage President & CIO According to a recent letter written to the Texas Public Utility Commission (PUC) by Potomac Economics, the Electric Reliability Council of Texas (ERCOT) made a $16 billion error in pricing during the week of Winter Storm Uri. This reportedly occurred because the PUC directed the grid operator to set wholesale power prices at $9,000 per megawatt hour for two days during the storm — the maximum market price allowed. Retail power providers then bought power from the wholesale market to deliver to consumers, because they were contractually obligated to do so...

3 Min Read HOUSTON, March 3 (Reuters) - Eight energy companies have failed to pay nearly $1 billion for power and services during February’s deadly power blackout in Texas, the state’s grid operator said this week, and the costs are likely to fall on consumers. A winter-storm surge in demand saddled the companies that sell, transmit and generate electricity in the state with about $47 billion in costs as fuel prices soared. Texas consumers will see higher prices as the unpaid fees are passed along to remaining providers. Power grid operator Electric Reliability Council of Texas (ERCOT) la...

An independent monitor says ERCOT left high prices in place for too long during the grid calamity.

ERCOT overcharged power companies $16 billion for electricity during winter freeze, firm says Mitchell Ferman, ERIN DOUGLAS, The Texas Tribune March 4, 2021 FacebookTwitterEmail "ERCOT overcharged power companies $16 billion for electricity during winter freeze, firm says" was first published by The Texas Tribune, a nonprofit, nonpartisan media organization that informs Texans — and engages with them — about public policy, politics, government and statewide issues. The Electric Reliability Council of Texas made a $16 billion error in pricing during the week of the winter storm that caus...

The Public Utility Commission of Texas rejects reversing a $16 billion error in ERCOT pricing during the week of the winter storm that caused power outages across the state.