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Texas officials on Saturday announced investigations into the causes of widespread power outages in the state and rising energy bills following the state’s winter storms.
Why is this important: Millions of Texans lost electricity and water in storms last week. In the process, wholesale electricity prices fell from around $ 50 per megawatt hour to $ 9,000, reports the WFAA – noting that some Texans have faced bills of up to $ 17,000 up to $ 17,000. now this month.
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What is happening: Governor Greg Abbott (right) said in a statement after holding an emergency meeting with the state’s Republican and Democratic MPs that it was “unacceptable that Texans who suffered for days in the freezing cold without electricity or heat are now hit by skyrocketing energy costs. “
- The Texas Utilities Commission (PUCT), the state’s utilities regulator, said on Saturday it had opened an investigation “into the factors which, combined with the devastating winter conditions, disrupted the flow. of electricity to millions of homes in Texas “.
“The Commission also unanimously approved a series of measures designed to protect retail electric customers feeling the financial effects of the ERCOT grid event.”
– PUCT declaration
To note: Abbott called the Texas Electrical Reliability Council (ERCOT) “kind of opaque about the way it works.
What to watch: Abbott said in his statement he was working with lawmakers and the state’s lieutenant governor “to develop solutions to ensure Texans aren’t accused of unreasonable spikes in their energy bills.”
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