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Utility commission refuses to reverse $16 billion in ERCOT overcharges

Utility commission refuses to reverse $16 billion in ERCOT overcharges
Bob Sechler, Austin American-Statesman
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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 be reversed, after Texas utility regulators rejected a recommendation that they make the change.
“It s just nearly impossible to unscramble this sort of egg, Arthur D Andrea, the new chair of the Public Utility Commission, said during a commission meeting Friday.
Potomac Economics, a Virginia-based firm that s paid by the state to provide an arm s-length assessment of the Texas power grid, recommended Thursday in a letter to the commission that the overcharges which were billed to retail electric providers, distributors and others be reversed by retroactively lowering wholesale electricity prices for a 32-hour period beginning Feb. 18. ....

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Texas utility won't reverse $16B in grid-failure overcharges | News

Texas utility won't reverse $16B in grid-failure overcharges | News
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Texas utility officials won't reverse $16 billion in electricity overcharges

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 ....

United States , Colorado River , Deann Walker , Dan Patrick , Shelly Botkin , Arthur Dandrea , Randa Stephenson , Catherine Webking , Public Utility Commission , Lower Colorado River Authority , Tribune Content Agency , Gannett Co Inc , Pedernales Electric , Representatives Of Austin Energy , Brazos Electric Power , Reliability Council Of Texas , Bluebonnet Electric , Electric Reliability Council , Brazos Electric Power Cooperative , Bluebonnet Electric Cooperative , Austin Energy , Pedernales Electric Cooperative , State Legislature , State Governments , Government And Politics , Electric Utilities ,