According to the Watchdog, which oversees the power grid operator, the Electric Reliability Council of Texas made a huge mess of $ 16 billion in overcharge last month, leaving millions of residents without power.
The ERCOT set the maximum electricity price at $ 9,000 per MW-hour, leading to a massive overcharge from 9 a.m. on February 18 to February 18. 19. Bloomberg said, Quoting Texas Independent Market Monitor Potomac Economics.
The firm sent a letter to regulators recommending pricing to be corrected and reversing the $ 16 billion overcharge.
The error prompted many power companies such as EDF Renewable Energy and Just Energy to ask the Public Utilities Commission to reset pricing, and others asked regulators to waive their payments until the problem was resolved. Do it
“If we don’t act to stabilize things, one of the worst cases is that people will go down,” Potomac economics vice president Carrie Bivens told Bloomberg. “It makes a wide impact.”
More than 4.5 million customers were left without electricity during the storm, which claimed the lives of dozens of Texans amidst freezing temperatures.
Four ERCOT board members resigned after coming under fire for not staying in the state and dealing with electricity expenditure.
Leave a Reply