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Texas power regulator warns lawmakers against retroactively cutting storm power prices

Stock Markets6 minutes ago (Mar 11, 2021 10:10AM ET)

(C) Reuters. FILE PHOTO: Winter weather caused electricity blackouts in Houston

(Reuters) – The head of Texas’s power regulator told lawmakers on Thursday that any effort to retroactively reduce the power prices levied during a recent storm would lead to lawsuits that the state could lose.

Commodity contracts that utilities and others use to hedge their prices have closed and ordering a change “will have consequences” for the power market, agriculture and other commodities that use such contracts, Public Utility Commission Chairman Arthur D’Andrea said in testimony before a state hearing.

Texas power regulator warns lawmakers against retroactively cutting storm power prices

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