Exelon Calls for Repealing $9,000 Power Prices From Texas Crisis
- Impact of price orders is ‘crushing’ on energy consumers
- Regulators lacked authority to set electricity price: Exelon
Workers repair a power line in Austin, Texas, during the freeze in February.
Photographer: Thomas Ryan Allison/BloombergThis article is for subscribers only.
Exelon Corp. called on Texas regulators to reset electricity prices from last month’s grid crisis, becoming one of the biggest generators to contest record-high energy costs.
The utility owner, which expects to take a $710 million hit from the Arctic blast that knocked half of Texas generation offline, asked the Public Utility Commission of Texas to rescind its Feb. 15 and 16 orders that set the price of electricity at $9,000-a-megawatt-hour, the maximum allowed.