Officials in Texas were repeatedly warned that the new Electric Reliability Council of Texas ERCOT rules about backup power capacity from last summer would be expensive and could drive up electricity prices
, a Bloomberg investigation of documents obtained via open records requests showed. Ahead of the summer peak demand in 2023,
and the Texas Public Utility Commission, which oversees ’s independent market monitor, has found that the new reserve pool policy has created $12 billion additional costs, Bloomberg reported in December. is now reviewing how it sources reserve power generating capacity, the Texas grid operator told Bloomberg on Wednesday.
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