Texas grid users failed to pay $2 billion in charges on Friday – official notice
HOUSTON (Reuters) – Troubled Texas power grid operator ERCOT on Friday said $2 billion in charges for power and services went unpaid, according to an official notice, signaling the financial fallout from high electricity rates is spreading to utilities.
It will cover $800 million of the shortfall by borrowing from internal accounts, and will draw an undisclosed amount from grid users with credit balances. A spokeswoman was unavailable for immediate comment.
Source: Read Full Article