Texas Grid Operator ERCOT Overcharged by $16 Billion After February Winter Storm

HeadlineMar 05, 2021

Texas’s power grid operator ERCOT overcharged customers by $16 billion during last month’s historic winter storm that caused power outages across the state, according to a watchdog filing. The Electric Reliability Council of Texas, which sets the price of electricity, kept the emergency surge pricing in place for 33 hours longer than needed. In related news, the president and CEO of ERCOT, Bill Magness, was fired Wednesday amid the ongoing fallout. 

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