Courtroom guidelines Texas company saved energy costs too excessive throughout freeze

(Reuters) – The Texas company that regulates the state’s energy utilities overstepped its bounds and saved energy costs too excessive within the wake of a lethal 2021 deep freeze that led to widespread electrical energy outages, in response to a Texas appeals courtroom ruling on Friday.

The Public Utility Fee of Texas (PUCT) exceeded “limits on its energy” by protecting costs at a cap of $9,000 per megawatt hour throughout the storm, which struck in mid-February two years in the past, the Texas third District Courtroom of Appeals in Austin dominated.

Greater than 200 individuals died throughout Storm Uri as energy and gasoline costs soared to file highs in elements of Texas and in different U.S. Central states, costing utilities and their customers billions of {dollars}. 

The fee violated necessities that it “use aggressive strategies to the best extent possible and impose the least impression on competitors,” the courtroom stated in its resolution. 

The PUTC declined to touch upon the ruling, citing its coverage towards remarking on pending litigation.