Did PUC go too far in raising power prices to the max during 2021 winter storm? Court hears the case

Some of Texas’ largest energy companies and their government regulators are scheduled Wednesday to argue one of the most important cases resulting from last year’s winter storm.

Dallas-based Luminant Energy, a subsidiary of Vistra Corporation, and several other power suppliers are asking the Texas Third Court of Appeals in Austin to rule that the Texas Public Utility Commission illegally adopted two rules during the historic storm that allowed the Electric Reliability Council of Texas to increase the price of electricity 650 percent for four days.

But lawyers for the PUC and two major energy companies, Calpine Corporation and Talen Energy, argue that …