Texas Opts Not to Fix $16 Billion Power Overcharge

Utility commission says repricing power markets too difficult, despite recommendation that overcharges during storm be reversed The Public Utility Commission of Texas on Friday signaled it didn’t intend to reverse $16 billion in electric overcharges that an independent market monitor had flagged as stemming from the state’s weeklong blackouts. Commission Chairman Arthur C. D’Andrea said it was too difficult to reprice the energy markets and involved too many uncertainties. “It is impossible to unscramble this sort of egg,” he said. Mr. D’Andrea said there were so many hedges and private transactions outside the view of the commission that taking a...