Texas overcharged $16 billion for energy throughout final month’s disaster, monitor says

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An unbiased market monitor stated the Texas power-grid operator made a essential mistake that resulted in $16 billion in electrical energy overcharges final month, and really useful that the costs be reversed.

The monitor concluded that Texas stored wholesale costs excessive for 33 hours longer than warranted because the state handled a significant winter storm that led to energy shortages and mass blackouts and may right this error by retroactively repricing its wholesale energy marketplace for that interval.

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