Texas officials on Saturday announced investigations into the causes of the widespread power outages in the state and a spike in utility bills due to the state’s winter storms.
Why it matters: Millions of Texans lost power and water in last week’s storms. In the aftermath, wholesale electricity prices soared from about $ 50 per megawatt hour to $ 9,000, WFAA reports – noting that some Texans have been dealing with bills of up to $ 17,000 so far this month.
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What is going on: Gov. Greg Abbott (R) said in a statement after holding an emergency meeting with Republican and Democratic state legislatures that it is “unacceptable that Texans who suffered days of freezing cold without electricity or heat are now hit by sky-high energy costs. “
- The Texas Public Utility Commission (PUCT), the state regulator, announced on Saturday that it has opened an investigation “into the factors that, coupled with the devastating winter weather, are disrupting power to millions of homes in Texas.”
“The Commission also unanimously approved a series of steps designed to protect retail electrical customers who are feeling the financial impact of the ERCOT network event.”
– PUCT statement
Of interest: Abbott has called the Electric Reliability Council of Texas (ERCOT) “a little opaque, as it is administered.
What to watch: Abbott said in his statement that he is working with lawmakers and the state lieutenant governor “to develop solutions to make sure Texans aren’t on the heels of unreasonable spikes in their energy bills.”
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