On March 9, 2021, Governor of Texas, Greg Abbott (R), announced that the correction of billing errors is an emergency matter to be considered immediately by the Texas legislature.[1] The announcement comes after regulators at the Texas Public Utility Commission (PUC) declined on March 8, 2021 to direct the Electricity Reliability Council of Texas (ERCOT) to retroactively reprice its artificially inflated prices during the February 2021 cold weather event.[2] The commissioners expressed concern that there was too much uncertainty in how customers might be impacted by directing ERCOT to reverse its pricing. The decision goes against the recommendation of Potomac Economics, the region’s independent market monitor (IMM). According to the IMM, ERCOT should have immediately lowered prices after load shed instructions ended on February 17, 2021, but prices remained high through February 19, 2021 which cost the market $16 billion over the course of 32 hours. On March 8, 2021, Texas Lt. Gov. Dan Patrick called on the PUC to retroactively change the prices from that time period. On the same day, Texas PUC Commissioner Shelly Botkin resigned effective immediately. Her departure comes just a week after the resignation of Chair DeAnn Walker and leaves the commission with just one member left, Chair Arthur D’Andrea.

[1] https://www.utilitydive.com/news/texas-puc-loses-2nd-commissioner-as-lt-gov-presses-ercot-to-correct-16b/596378/

[2] https://www.utilitydive.com/news/texas-regulators-decline-to-act-after-market-monitor-reports-16b-of-inapp/596252/