Texas Lt. Gov. Calls On Gov. Abbott To Order Texas PUC To Correct ERCOT Prices; Or Direct That Prices Are Under Investigation

Texas Lt. Gov. Dan Patrick today called on Gov. Greg Abbott to order the Public Utility Commission of Texas to "correct" ERCOT prices for the period beginning 11:55 p.m., February 17, 2021, and ending 9 a.m., February 19, 2021

Patrick said that Abbott has such authority under the governor's various emergency powers, noting that the governor recently renewed the winter storm disaster declaration

To the extent Abbott is unwilling to take such action, Patrick called for Abbott to, at a minimum, order ERCOT (or order the PUC to order ERCOT) to announce that prices for the relevant period are under investigation

Patrick said that such an announcement to the market from ERCOT would extend the deadline before prices become final for an additional 30 days, and provide more time to work through the issue.

Patrick urged such immediate action because otherwise the ERCOT prices would soon become final under the standard ERCOT process.