The $ 16 billion in electrical surges in Texas? Monitor says only $ 3.2 billion can be undone

Only a fraction of the $ 16 billion in Texas electricity surcharges stemming from last month’s blackouts can likely be recovered for consumers by attempting to reverse the charges, an independent market monitor said Thursday.

The monitor, which first revealed last week that Texas appeared to have charged $ 16 billion more for electricity during the winter storm that left millions without power in freezing temperatures, said that after further review, it believed it would. maximum that could probably be recovered $ 3.2 billion.

This is because most of the surcharges have already been settled in financial markets or handled by companies that own both power plants and retail electricity providers, the monitor, Potomac Economics, said.

Flight attendants sparked a political fight in the lone star state. Top Texas politicians are demanding that the state utility commission and the electric grid operator modify the market price to reverse the charges involved, while generators, market experts and others warn that such a move would lead to a loss of confidence in the Texas markets.

The monitor, which reports to the Texas Public Utilities Commission, recommended that the charges be reversed last week.


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