The Texas Supreme Court has ruled state regulators did not exceed their authority in setting historically high electricity utility rates during the 2021 Winter Storm Uri, a storm that not only killed more than 200 people in Texas but also saw the nation’s highest natural gas prices in Oklahoma.
It was a 7-0 ruling by the justices in support of the Texas Public Utility Commission which set electricity prices at 300 times their usual rate during the storm three years ago. In doing so, the justices also overturned a lower court’s decision that utility companies hoped at the time of the storm to recover their losses.
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