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Quorum Report Daily Buzz

March 17, 2021      7:06 PM

In standoff over repricing, Chairman Paddie points to realities of the ice storm while Patrick adds opinion from Paxton to his arsenal

Patrick says “The clock is ticking” as he rushes legislation while Chair Paddie’s committee hears options like securitization of debt and reforms to communication, infrastructure and pricing going forward

Lt Gov. Dan Patrick, racing to beat the clock, is urging the Texas House to follow the Senate’s lead and pass legislation that will reprice electricity during Winter Storm Uri.

ERCOT functions on two deadlines: a 30-day deadline to close uncontested contracts and a 55-day deadline to closing contracts where there needs to be a settle up.

When looking at the dates where electric power use in Texas was at its highest and most expensive – February 18 and February 19 – the bell is about to ring on whether the PUC has time to move and reprice the market, a move Chair Arthur D’Andrea has declined to do because of the long-term ramifications it could have on Texas credit. Of course, he’s tendered his resignation pending appointment of a replacement.

By Kimberly Reeves

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