Texas Supreme Court overturns Luminant ruling in winter storm pricing

Luminant had challenged a state agency order that kept energy prices at their highest possible level for four days.

During the freeze and blackouts, which led to the deaths of more than 200 people, the commission ordered the price artificially set at the cap price for four days. Several companies and utilities went bankrupt after paying about 300 times more for electricity than is typical in Texas. Luminant lost roughly $1 billion during the freeze, according to court documents.In the aftermath, every member of the Public Utility Commission and ERCOT’s leadership resigned or was fired.

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