Texas Now Investigating Allegations Companies Faked Power Failures To Drive Prices Higher

coal power plant tbi

The Public Utility Commission of Texas has called for an investigation into last week’s price surge for electricity, asking whether or not some power production companies faked outages, according to WSJ.com.

During the storm, the cost of electricity spiked to an all time high in Texas, driven by pipe incidents in Central Texas.

Daniel Jones will be investigating whether or not the spikes were partly down to businesses being dishonest about outages, like in California’s energy crisis of 2000-2001.

Trip Doggett, who’s head of the Electric Reliability Council of Texas, refused to answer questions about these allegations when asked Friday and directed the interviewer to Daniel Jones at Potomac Economics, the independent monitor.

Here’s a reminder of what the electricty price spike looked like last week:

Chart

Photo: Bloomberg

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