While Oklahoma’s astronomical natural gas prices that hit the state during the 2021 Winter Storm Uri are being investigated by State Attorney General Gentner Drummond, in Texas, authorities took steps recently to assure price protections for consumers during power emergencies.
Regulators decided to put a cap on the charges that might hit customers during such emergencies as occurred during the winter storm two years ago.
The Public Utility Commission of Texas voted last week to adopt the Emergency Pricing Program for the state’s Electric Reliability Council of Texas or ERCOT.
“Implementing the Emergency Pricing Program provides another layer of financial protection for Texas consumers and will ensure their electricity bills remain affordable even when conditions are tight in the ERCOT system,” PUCT Executive Director Thomas Gleeson said.
“This is a key part of our ongoing work to ensure electric reliability for Texans at a reasonable cost.”
“The new EPP will trigger if system-wide energy prices hit the $5,000 per MWh HCAP threshold for 12 hours within a rolling 24-hour period. When the EPP is activated, a new emergency offer cap (ECAP) will take effect, reducing the cap on wholesale electricity offers to $2,000 per MWh and ultimately further protect consumers,” PUCT said, reported KXAN TV News.
Source: KXAN News