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SB 2142 - Authorizes Retroactively Correcting Prices to Compensate Customers after Blackouts - Texas Key Vote

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Title: Authorizes Retroactively Correcting Prices to Compensate Customers after Blackouts

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the state Public Utilities Commission to retroactively correct prices to compensate customers after multiple ERCOT related blackouts.

Highlights:

 

  • Alleges there is a compelling public interest in correcting the prices of wholesale power and ancillary services sold in the ERCOT market during the period beginning 11:55 p.m., February 17, 2021, and ending 9 a.m., February 19, 2021 (Sec. 2-1).

  • Alleges the Public Utility Commission of Texas has all necessary authority to order a correction of prices of wholesale power and ancillary services sold in the ERCOT market during the period described (Sec. 2-2).

  • Requires the Public Utility Commission of Texas to order the independent organization certified for the ERCOT power region to correct the prices of wholesale power and ancillary services sold in the ERCOT market during the period beginning 11:55 p.m., February 17, 2021, and ending 9 a.m., February 19, 2021, to reflect the prices of wholesale power and ancillary services that would have been paid in the ERCOT market during that period absent any action of the independent organization or commission to raise prices (Sec. 3.a).

  • Requires the Public Utility Commission of Texas to request the independent organization to issue all orders and take all other actions necessary to correct the prices not later than March 20, 2021 (Sec. 3.b).

Title: Authorizes Retroactively Correcting Prices to Compensate Customers after Blackouts

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