R&I NV — HOUSTON – Texas’ state power regulator on Friday unanimously vetoed a request to cut about $16 billion from state power charges during the final day of the state’s February cold snap, saying even a partial repricing could have unintended effects.
The state’s grid operator had raised power prices to $9,000 per megawatt hour, to induce power plant operator to increase power or stay running for five days. However, that 450-times-the-usual price remained in place after the emergency passed, adding about $16 billion to the total.
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Article URL : https://www.nbcnews.com/news/us-news/texas-power-regulator-rejects-request-cut-16-billion-charges-during-n1259828