Texas will not fix ERCOT’s $16 billion power billing mistake

Mitchell Ferman

Texas’ utility regulator had an opportunity Friday to eliminate some of the $16 billion that the state’s the grid operator erroneously overcharged power companies during last month’s deadly winter storm — but the board of the Public Utility Commission chose not to do so.

Some Texas electricity customers could have benefited from a decision to readjust the electricity market prices for the week of the storm, according to PUC Chair Arthur D’Andrea and some independent analysts. But other customers could have been …

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