Study: Pricing Error By ERCOT Led To Huge Overcharges

An outside monitor reports ERCOT overcharged its wholesale electricity customers by $16 billion during the winter storm because of a pricing error. 

Virginia-based Potomac Economics was hired to assess the Texas power grid. Potomac notified state regulators on Thursday that ERCOT left wholesale prices at $9,000 per megawatt hour, the highest level allowed, for about a day and a half too long during the power crisis. 

Potomac is recommending that the overcharges be reversed.

Photo: Getty Images

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