Texas Regulators Double Cap for Electricity Prices

Wholesale electricity prices on the Texas power grid will be allowed to go twice as high as is currently possible, following a vote Thursday by the Texas Public Utility Commission.

Over the next few years, the cap on wholesale prices will be allowed to rise from $4,500 per megawatt-hour toward a new level of $9,000 per megawatt-hour. Normally power prices do not reach anywhere near the cap, but during a power crunch, prices can temporarily hit it.

The move is aimed at ensuring that Texans will have enough power in the future because, as the theory goes, higher ...

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