ERCOT Price Gouging

Welcome to the Deregulated State of Texas! During the crisis brought on by government failure and capitalism last week in Texas that caused millions of people to suffer in freezing temperatures and suffer without water, some Texans received egregious electricity bills. I found the historical data on Electric Reliability Council of Texas (ERCOT) settlement point prices here. ERCOT manages the power grid system in Texas. According to the Quick Facts from ERCOT, “it also performs financial settlement for the competitive wholesale bulk-power market and administers retail switching for seven million premises in competitive choice areas.