Ercot Still Short $1.3 Billion in Energy Payments: Texas Update

A second day of marathon hearings on Texas’s unprecedented energy crisis raised concerns about the liquidity of the state’s power market, and who will ultimately pay for the disaster as some companies face bankruptcy.

Several utilities told Texas lawmakers Friday that they were still awaiting payment from the grid operator, known as Ercot, for power they provided during the grid emergency, with at least one worrying whether they would be paid at all. As the hearings continued into the evening, Ercot issued a notice saying they remain $1.3 billion short of what they need to pay generators, due to nonpayment from other market participants.