Texas Court Rules State Agency Set Excessive Electricity Prices During Winter Storm

A Texas appellate court has ruled that the Public Utility Commission exceeded its authority during the February 2021 winter storm by raising the price of electricity to the maximum of $9,000 per megawatt-hour, resulting in billions of dollars of overcharges. The ruling was in response to an appeal by electric utility Luminant, but the consequences of the decision are not yet clear as the case has been remanded for further consideration.