Texas energy companies failed to pay another US$345 million for electricity and other services incurred during last month's cold snap, the operator of the state's grid said on Monday.
The state's deregulated electricity market was thrown into turmoil last month as 48per cent of its generating plants went offline, fueling up to US$9,000 per megawatt hour spot rates and US$25,000 per mwh service fees. Those charges drove one provider into bankruptcy on Monday.
The state-supervised operator acts as a clearinghouse, collecting cash from marketers that buy power, and sending it to the companies that furnish electrons to its grid.
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