Amanda Drane
The state’s grid manager booted two more retail electricity providers from Texas wholesale power markets this week after they failed to make payments to cover their purchases during the recent power crisis.
At least three retail power companies have been banned from participating in the market because they could not cover bills run up when frigid weather and failing power generators drove prices to the state maximum of $9,000 per megawatt hour — more than 300 times average wholesale prices. The Electric Reliability Council of Texas, or ERCOT, ousted Entrust Energy, which owes some $290 million, and Power of Texas, which owes an amount that was not available Friday.
Earlier this month, ERCOT kicked out the California retail power company Griddy, which stranded its customers with huge bills and …