Texas Supreme Court sides with regulators on winter storm pricing

The Texas Supreme Court ruled Friday that state utility regulators acted within their authority when setting wholesale electric prices at a $9,000 per megawatt-hour limit during Winter Storm Uri in 2021. The move cost Texans billions of dollars and prompted lawsuits from utilities who had to pay high prices to keep lights and heaters on, eventually passing those cost back to their customers.

Energy seeking jury trial in case over 'unconscionable prices' for gas during Winter Storm Uri Vistra, in its arguments to the high court, questioned whether the price hikes were needed to keep the grid from total collapse. The company said it was earlier rolling blackouts that saved the grid from worse conditions. The court wrote it “must decline” Vistra’s “invitation to second-guess the orders” because the regulators that have the expertise — not the courts.

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