Public Utility Commission Chairman Peter Lake speaks during an interview in his office on Thursday, Sept. 2, 2021 in Austin, TX. AUSTIN — The Public Utility Commission on Thursday voted unanimously to overhaul how electricity is bought and sold within the Electric Reliability Council of Texas, a decision that could have sweeping impacts for the grid’s performance and for ratepayers’ monthly power bills.
The additional costs associated with the plan are expected to be passed on to consumers. But it might take two to four years before bills increase as details get ironed out. Most of those points were raised by Commissioner Jimmy Glotfelty when he described what he would like to see added to the PCM proposal. He worried that if generators and their affiliated electric retailers, such as NRG and Reliant or Vistra and TXU, sold and bought performance credits among themselves, they could hypothetically game the market and concentrate market share.
The commissioners ultimately tasked ERCOT staff to study whether implementing that type of ban would have a negative impact on the market.
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