The Texas Supreme Court on Friday ruled that the Texas power grid regulator didn’t overstep its authority when it set wholesale electricity prices at its maximum cap for several days during the deadly February 2021 freeze, overturning the conclusion of an appellate court.
The decision from the state’s highest court protected the billions of dollars some power generation companies earned selling electricity at the $9,000 rate and prevented what could’ve been a messy untangling of electricity transactions made during the multiday cold snap.
Freezing weather impaired power plants’ abilities to operate in February 2021, pushing the state’s grid operator, the Electric Reliability Council of Texas, to order outages to prevent a total collapse of the grid, during which power could've been out for weeks.
Join the conversation as a VIP Member