By Gary McWilliams / reuters
Last month’s cold snap pushed up normal electricity costs by nearly 10 times to about $47 billion. Those costs led three companies to seek bankruptcy and sparked a battle between lawmakers and the state’s power regulator over the handling of the crisis.
The Senate overwhelmingly approved a measure directing the Public Utility Commission chairman and grid operator Electric Reliability Commission of Texas (ERCOT) to correct 32 hours of emergency prices and roll back service fees. If approved by the Texas House of Representatives, it would go to the governor’s desk for his review.
Both legislative chambers are controlled by Republicans, and Governor Greg Abbott is also a Republican.