Texas PUC Won't Re-price Energy Prices From Weather Event, Still Considering Ancillary Service Prices

The Texas PUC today decided not to re-price ERCOT energy market prices from the recent weather event, but did not act on petitions to re-price ancillary services (AS), and will further consider the AS issues

Chairman Arthur C. D'Andrea said that market participants made decisions in response to energy prices in real-time, based on info that was available to everyone. It's nearly impossible to "unscramble this egg," D'Andrea said

D'Andrea noted that the PUC is aware of the entities hurt by energy market prices, and could address such entities in a more surgical manner, rather than re-pricing which would hurt other market participants who would then also be seeking relief.

With respect to re-pricing ancillary services, D'Andrea and Commissioner Shelly Botkin both expressed reluctance to re-price AS; however, they noted that the AS issue did not have the same deadline as the energy market pricing issue (due to ICE timelines on energy market prices), and will further consider the issue of re-pricing AS.