Gov. Abbott to Blame for Billions in High Electric Prices, Former Grid CEO Says

Buzzkill.

 

I guess them kickbacks paid dividends.

Great businessman governor Abbott

 

literally!

 

The ERCOT needs to have at least 51% representation from the public and not from the government/industry (yes, they are all but the same in TX)

"Bill Magness, the former President and CEO of the Electric Reliability Council of Texas (ERCOT), which runs the state’s power grid, took the stand this week in bankruptcy court as part of a hearing brought by Brazos Electric, an electric co-op based in Waco. At the center of the mess is a key decision made by ERCOT during last year’s historic winter storm to keep electricity prices high, even as outages were ending across the state, for more than a day after things started to return to normal.

That move ultimately cost power providers an extra $16 billion in costs; Brazos, for its part, is claiming that the decision cost it $1.9 billion alone, which dragged it into bankruptcy. (Power companies, of course, aren’t the only ones who got the short end of the stick in this move. Some customers also saw astronomical power bills following the storm.)

During the final days of the storm in mid-February, power prices were capped at more than 150 times normal at $9,000 per megawatt hour. Magness is now saying that the decision to keep those rates even as power plants were coming back online came from the governor. He testified that the now former Public Utility Commission Chairwoman told him that “the governor had conveyed to her if we emerged from rotating outages it was imperative they not resume. We needed to do what we needed to do to make it happen."

The decision to keep prices high in the final days of the crisis, Magness said, was an attempt by the PUC to encourage power plants to come back online and to keep big power users like industrial facilities offline, in order to conserve emergency power reserves. However, the move to keep prices so high for so long and the enormous resulting cost to the system has been widely criticized by watchdogs as ill-advised and exceeding the scope of the Commission’s power—and, it seems, no one wants to step up to the plate to take the blame. (By the way, big out-of-state banks, including Bank of America, Morgan Stanley, and Goldman Sachs did profit from the inflated prices, and were caught on a recorded call last year with a former Public Utility Commission employee who assured them he was working to help them keep their profits.)"

 

Dirty greedy money in his pockets do nothing Abbott. He is terrible for Texans.

 

Shocking.

 

The only way he is gone is if the millenials vote.

DD

 

Don't worry, Republicans like @Commodore don't give two ***** about being screwed by the system as long as a D is not put in office.

 

Just ignore him then. People bend over too much.

 

Too much gaslighting?

 

Won't Happen
Also . .. the Democrats don't fight dirty Enough

I know I would be banging commercial every 30 minutes
Democrats: You know those Dangerous Criminals republicans talk about being released . . .. . . remember . . . . they are fighting to make SURE EACH AND EVERY ONE OF THEM HAVE ACCESS TO FIREARMS!

Democrats: Abbot Tried to kill you grandmother so his Electric Boys could get an extra Condo in Florida

Democrats: Republicans say the border is worse than ever and crime is outrageous! . . . . Well it happened on ABBOT's Watch! The buck Stops there.


go to the gutter

Rocket River