NRG: Texas will face $14bn in losses with current power market

NRG Energy Texas Public Utility Commission power market power outages $14 billion

NRG Energy (NYSE: NRG) filed a study with the Texas Public Utility Commission earlier this week projecting the state will suffer $14 billion in losses through power outages over the next 15 years under the current power market system, according to The Dallas Morning News.

According to NRG, Texas could see spiking electricity prices and up to four outages a year that would result in loss revenue for businesses, the Morning News reported. NRG favors switching Texas’ current market system to a capacity market system where companies would receive a fixed subsidy for building new plants.

The utility commission in expected to make a decision on switching the type of market this fall, according to the Morning News.

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