Texas Watchdog Says Grid Operator Made $16 Billion Error
Source: bloomberg
March 4, 2021, 12:07 PM CST Updated on March 4, 2021, 5:52 PM CST
A firm hired to monitor Texas’ power markets says the region’s grid manager overpriced electricity over two days during last month’s energy crisis, resulting in $16 billion in overcharges.
Amid the deep winter freeze that knocked nearly half of power generation offline, the Electric Reliability Council of Texas, known as Ercot, set the price of electricity at the $9,000-a-megawatt-hour maximum -- standard practice during a grid emergency. But Ercot left that price in place days longer than necessary, resulting in massive overcharges, according to Potomac Economics, an independent market monitor hired by the state of Texas to assess Ercot’s performance. In an unusual move, the firm recommended in a letter to regulators that the pricing be corrected and that $16 billion in charges be reversed as a result.
...............................
Read more: https://www.bloomberg.com/news/articles/2021-03-04/texas-watchdog-says-power-grid-operator-made-16-billion-error?sref=Os5mORbE
Link to tweet
?s=20
Link to tweet
?s=20
= new reply since forum marked as read
Maybe, just maybe, if they get sued to kingdom come over this, they'll think about doing that winterizing that they should have done already that could have prevented all this shit! 
Greedy bastards like that don't care about human suffering and people dying, but if they get hit hard enough in the old pcketbook, that just MIGHT get their attention. 
...What could go wrong? 
