In a letter to ERCOT from Potomac Economics, advisors still stated that energy was overpriced by $16 billion, but not all of those costs were directly settled by ERCOT, thus the change.
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Companies who generate power profit from the market by selling available electricity at a much higher price as an incentive to other power companies to produce more power to meet demand.
Earlier this week, commissioners on the Public Utility Commission decided not to reverse the charges, citing too much uncertainty.
ERCOT should've ended emergency pricing that saw the price for energy increase 300 times over from a normal day, but it didn't do so, according to the report.
SEE ALSO: Harris County attorneys file resistance to ERCOT's 'sovereign immunity' claim