Senate Fast Tracks Bill Correcting Electricity Prices
Finally some good news comes to us from the Senate. As Texas still reels from the devastating snow storm that took place in February, many saw their electricity bill skyrocket.
Well now the government is trying to fix that.
Relating to correcting the prices of wholesale power and ancillary services sold in the ERCOT market during a certain period.
There has been a reported $16 Billion in overcharges after the Electric Reliability Council of Texas (ERCOT) and the PUC reportedly did not correctly adjust energy prices in the hours after the storm.
All that's left is for Governor Abbott to sign the bill now.
“These are very complex issues,” Abbott said in Houston Monday morning when asked about the legality of retroactively changing energy prices. “That’s exactly why the legislature is the right body to investigate this, to weed through all these complexities, and to make sure that if legislation is passed, it will satisfy the requirements of the Texas constitution.”
I think this is a no brainer, if Texans have been over charged by that much, it is their responsibility to fix this and it should be done as soon as possible.
Hopefully we will get more info soon telling us not to worry about anything. Because this is really the last thing we should have to worry about, especially right now when we are so close to back to normal.
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