Texas power crisis deepens as more companies skip payments due to grid operato
Source: Reuters
ENERGY & ENVIRONMENT MARCH 1, 2021 6:08 PM UPDATED 31 MINUTES AGO
By Gary McWilliams 3 MIN READ
HOUSTON (Reuters) - Texas energy companies failed to pay another $345 million for electricity and other services incurred during last month’s cold snap, the operator of the state’s grid said on Monday.
The state’s deregulated electricity market was thrown into turmoil last month as 48% of its generating plants went offline, fueling up to $9,000 per megawatt hour (mwh) spot rates and $25,000 per mwh service fees. Those charges drove one provider into bankruptcy on Monday.
In all, electricity prices on the state’s wholesale market soared by $47 billion for the about five-day period when cold weather drove up demand and generating plants failed, estimated Carrie Bivens, a vice president at Potomac Economics, which monitors the Texas power market.
Reporting by Gary McWilliams; Editing by Rosalba O’Brien and Stephen Coates
Read more: https://www.reuters.com/article/us-usa-texas-grid-finances/texas-power-crisis-deepens-as-more-companies-skip-payments-due-to-grid-operator-idUSKCN2AT3TD?il=0
So when these "deregulated" greedy jerks file for bankruptcy do the people from other states have to bail them out..........
Abbott is watching the situation............he helped cause it............hope the taxpayers are prepared for this.......
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It like if you cut and gut and take that cut and gut and give it people that think they are entitled to that cut and gut , and then when this happens this really should come out of there pockets they got the cut and gut and knew that this could happen..........
