The grid manager for Texan energy markets overcharged some $16 billion for electricity during the winter storm that hammered the state’s independent power grid, according to a third-party monitor. The Electric Reliability Council of Texas (ERCOT) set prices at a ceiling of $9,000 per megawatt hour during the emergency, but left the rate in place for two days longer than necessary, independent market monitor Potomac Economics concluded. The monitor, which the state hired, recommended the charges be reversed, according to Bloomberg.
The Electric Reliability Council of Texas (ERCOT) set prices at a ceiling of $9,000 per megawatt hour during the emergency, but left the rate in place for two days longer than necessary, independent market monitor Potomac Economics concluded.
The monitor, which the state hired, recommended the charges be reversed, according to Bloomberg.
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