Texas grid operator made $16 billion price error during winter storm, watchdog says ...United Arab Emirates

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Texas grid operator made $16 billion price error during winter storm, watchdog says
source : Gulf News ( United Arab Emirates ) () 5
Power grid operator Electric Reliability Council of Texas (ERCOT) made a $16 billion pricing error in the week of the winter storm that led to power outages across Texas, Potomac Economics, which monitors the state's power market, said. ERCOT kept market prices for power too high for more than a day after widespread outages ended late on Feb. 17, Potomac Economics, the independent market monitor for the Public Utility Commission of Texas, which oversees ERCOT, said in a filing. "In order to comply with the Commission Order, the pricing intervention that raised prices to VOLL (value of lost load) should have ended immediately at that time (late on Feb. 17)," Potomac Economics said. "However,

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