Texas electricity prices from winter storm to be lowered by almost $13 billion dollars

Ranchers in the “Lone Star State,” who saw massively inflated power bills after last month’s winter storm, get some reprieve.

The Public Utility Commission of Texas says that an independent market monitor has lowered the price of electricity charges from $16 billion dollars to $3 billion dollars.

During the freeze, the Commission had ordered the grid operator to raise the wholesale megawatt-hour price to $9,000 dollars.

The market monitor reports that price remained in effect for more than 30 hours longer than necessary.