State of Texas to investigate February power price spikes

Texas utility regulators are to decide in April whether to ban trading practices that caused wholesale electricity costs to spike by $70 million over a two-day period in February.

The trading practice – known as ‘hockey stick’ bidding due to the shape of the price curve it creates – entails a company offering a small amount of its power supplies at extremely high prices when the market is tight.

The Texas Public Utilities Commission (PUC) says the practice helped push prices in the Electric Relia

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