In recent legal news, Winter Storm Uri’s power dispute has reached the doors of the Supreme Court of Texas. On September 29, 2023, the court declared its intent to review a lower court’s reversal of two orders related to the storm issued by the Public Utility Commission of Texas (PUCT).
These orders date back to 2021 during the historic winter storm, a catastrophic event inflicting approximately $195 billion in damages. The PUCT, in response to the crisis, issued orders causing power prices in the Electric Reliability Council of Texas (ERCOT) to skyrocket to $9,000/MWh for an extended period of time. This increase in cost impacted companies and consumers alike, causing widespread dissatisfaction.
The review by the Supreme Court of Texas promises a thorough examination of these controversial orders. Legal professionals, particularly those working with large corporations and law firms, should pay close attention to the resulting implications this case could bring.
For more detailed information referencing this matter, you can refer to the summary provided by McGuireWoods LLP.