Texas Senate Moves On Winter Storm Electricity Charges

The Texas Senate passed a bill to authorize the reversal of $16 billion in overcharges after the winter storm. The bill requires the Public Utility Commission of Texas to order a “correction of prices”. The bill’s author, State Senator Bryan Hughes said ERCOT and the PUC did not correctly adjust energy prices after the storm, which resulted in the overcharges.  If the prices were left uncorrected, it would cost energy companies and consumers $3 billion. The measure now goes to the House for consideration .