The actions by the Public Utility Commission led to billions of dollars of overcharges, the Austin-based court found. It’s not yet clear if the ruling will affect consumers.
The electric utility Luminant appealed the PUC’s pricing decisions in the month after the storm. It argued that the commission exceeded its authority in setting the price at the maximum, among other points. The Austin-based Third Court of Appeals agreed in its ruling Friday.
If the order stands, it could theoretically create a "gigantic mess" for the PUC and the state’s grid operator, the Electric Reliability Council of Texas to unwind the transactions that occurred during the days when the price was set at the $9,000 cap, said Alison Silverstein, who previously worked as a senior advisor for both the PUC and the Federal Energy Regulatory Commission.
That would be a long process with little chance of benefiting end users, she said. "I don’t think the end consumer will ever see a penny of benefit out of this."
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