Texas Supreme Court sides with state regulators hiking prices during 2021 winter storm

The Texas Supreme Court sided with state regulators over their decision to set prices at the maximum level during the 2021 winter storm.The decision bankrupted some companies and cost others millions. The expenses eventually trickle down to everyone else.In the midst of the deadly 2021 storm when power generators were down and homes growing colder, state regulators jacked up prices to their highest level.

He says the Supreme Court decision signals competition shouldn't be driving the market."That's where there's a huge divergence between an understanding of what a competitive market is and an understanding of what a top-down, government-controlled market is," he said.The court ruling comes as the state seeks to avoid a repeat of 2021 with signs electricity demand will essentially double over the next six years.

Source: News Formal (newsformal.com)

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