Natural gas and power operators in Texas were blitzed by arctic temperatures in February. THOMAS SHEA/AFP via Getty Images A watchdog for Texas' power-grid operator said it overcharged as millions went powerless. The Electric Reliability Council of Texas is not federally regulated. The report said power prices were set at $9,000 per megawatt per hour, the highest price possible. Visit the Business section of Insider for more stories. Potomac Economics, an independent market monitor for Texas' Public Utility Commission said that the state's power-grid operator massively overcharged residents as the state was rocked by a deep freeze and power grid failures in late February.The overcharges came in at a total of $16 billion, according to the filing.
Similar Stories to Texas Monitor Says State Power-grid Operator Overcharged $16 Billion In Electricity Bills During Power Outages on Bing News
aharoun@businessinsider.com (Azmi Haroun), Business Insider
Thu, 03/04/2021 - 7:42pm
Topics: thomas shea/afp getty images the electric reliability council visit potomac economics ercot ceo bill magness business insider a texas february electric reliability council business insider commission public utility commission ercot texans monitor billion report prices freeze powerless set blitzed millions determined highest price resigned hour independent
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