The Texas Senate in Austin on Monday is turning back the legislative clock to pass a bill 27-3. This would authorize the Public Utility Commission, the state’s top utility regulator, to order those charges to be reversed. Now, this bill now moving to the House. This is where lawmakers plan a slow, deliberate response to last month’s power failures.
Texas Senate has Acted and Wants help from the Governor “The Great Real Hero” Greg Abbott!
Lieutenant Governor Dan Patrick said the Senate has acted. Patrick is the chamber’s leader and he made reversing the charges a major priority this session. “We are asking Governor Greg Abbott to join us in the chamber. I’m thinking if he signs this. It will help get this bill through the House.” America is praying for a good outcome for Texas! They total leaders and shining examples of democracy in action to the rest of the union!
Correcting Billing Errors
Governor Greg Abbott last week made the statement. That, in fact, correcting billing errors during the state’s power failures an emergency item for the legislative session that ends this May.
Texas: Senate Bill 2142
Moreover, Senate Bill 2142 helps decipher that PUC has the authority to reverse the charges, that senators are calling a “pricing error.”
However, the bill orders the commission to mandate the reversal of the charges by this Saturday. In fact, experts said the state has to act fast if it plans to reverse the charges before there are additional financial transactions are closed and are harder to reverse.
Texas: Biggest Financial Hits For Retail Electrical Providers, Distributors
Retail electric providers and distributors right now are taking the largest financial hits because they had to buy power at $9,000-per-megawatt-hour. It was at a capped rate for the miserable days during the treacherous winter storm and cold snap. In fact, the power generators were making ready for maximum weather. In turn, they were able to keep producing power were benefiting because they sold the power at high prices.
On one hand, the retail electric providers and distributors would have reduced costs for wholesale electricity. However, the power generators moreover could lose money. This is because they’d still be responsible for paying high natural gas prices needed to produce the electricity the grid required.