AUSTIN – An appeals court on Friday rescinded an emergency pricing order Texas’ power grid regulator made during the 2021 deadly winter storm that cost...
AUSTIN – An appeals court on Friday rescinded an emergency pricing order Texas’ power grid regulator made during the 2021 deadly winter storm that cost consumers and power providers billions.
In a ruling released Friday, the Austin-based Third Court of Appeals ruled that the Public Utility Commission exceeded its authority in a directive that set the price of electricity at its cap amid the winter storm. The impact of the order could be far reaching as some power producers and electric companies have turned to the courts to clawback money lost during the storm.
The court ruled that the PUC went beyond what was allowable under Texas law by artificially setting the wholesale electricity price at the so-called high cap during the winter storm. The commission pinned the price at $9,000 per megawatt-hour during the storm and left the price there for two days after the storm subsided, resulting inOn Friday, electricity prices were hovering around $20 per megawatt-hour, according to ERCOT.
The court made no judgment on how its order would affect pricing, but said that it would hold further hearings “consistent with this Court’s opinion.” The lawsuit was filed by Vistra Energy subsidiary Luminant. The Irving-based company reported losing $2.5 billion related to the storm. Several other companies intervened in the suit.. Philip Jankowski has covered government, politics and criminal justice in Texas for 13 years. He previously worked for the Austin American-Statesman, the Killeen Daily Herald and the Taylor Press. Philip is a graduate of the University of Texas-Austin.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Antonio, Austin groups team up to lobby for economic development programsGreater:SATX and Opportunity Austin, an initiative of the Austin Chamber of Commerce, are pushing for legislation to attract and retain businesses.
Read more »
Most juvenile court judges in Ohio can’t grant witness immunity, Ohio Supreme Court holdsJuvenile courts get their power from a different portion of state law than county courts of common pleas, so they do not have the same powers, including granting witness immunity, the justices held.
Read more »
Biden administration tells Supreme Court Big Oil climate cases belong in state courtA lawsuit filed by several Colorado municipalities accusing ExxonMobil Corp and Suncor Energy Inc. of exacerbating climate change belongs in state court where it was filed, the Biden administration told the U.S. Supreme Court on Thursday.
Read more »
ICC issues arrest warrant for Russian President Vladimir Putin for alleged war crimeJUST IN: The ICC also issued an arrest warrant for Maria Lvova-Belova, Russia's presidential commissioner for children's rights, alleging she carried out the same war crime.
Read more »
Harris County OKs measures to support adding courts, public defendersThe measures passed by Commissioners Court are intended to help ease the county's court...
Read more »
Supreme Court remembering Justice Ruth Bader GinsburgJustice Ruth Bader Ginsburg, a champion for women's rights whose death ahead of the 2020 election allowed the Supreme Court to become more conservative, will be remembered during ceremonies Friday at the high court. Ginsburg, who served as a justice for 27 years and was the Supreme Court's second female member, will be remembered by some of the people who worked for her as law clerks, young lawyers who spend a year at the court working for a justice. The group includes Elizabeth Prelogar, the Biden administration's solicitor general, its top Supreme Court lawyer, as well as several judges and professors.
Read more »