Bloomberg Law
March 18, 2023, 5:16 AM

Texas Court Ruling Casts Uncertainty Over ‘21 Blackout Costs (1)

Naureen S. Malik
Naureen S. Malik
Bloomberg News

A Texas appeals court has reignited a fight over soaring power prices during the deadly 2021 winter storm that crippled the state’s electric grid.

A court in Austin on Friday sided with power generator Vistra Corp., deciding the Public Utility Commission of Texas exceeded its authority by pinning prices to $9,000-per-megawatt-hour during the storm in an effort to attract more power supplies onto the grid. The action resulted in billions of dollars in overcharges to consumers, according to the state’s power market monitor.

The winter freeze triggered widespread blackouts, killed more than 200 people and left Texas in chaos ...