"The last standing member of Texas’s Public Utility Commission handed in his resignation on Tuesday following a report that he assured out-of-state investors who made big profits from last month’s blackouts that he was working to make sure they could keep their money.
Texas Monthly obtained a recording of a March 9 call between Arthur D’Andrea, the only member of the state PUC who had not yet resigned following the February crisis, and out-of-state energy investors. (The call, naturally, was hosted by Bank of America Securities and was not open to the public or press.) The blackouts caused dozens of deaths, power outages for millions across the state, and an enormous financial hole that means consumers will be facing inflated bills for years to come.
D’Andrea was part of the state body appointed by the governor that is supposed to regulate the state’s grid operator. Theoretically, he’s supposed to be part of a nonpartisan body that makes sure that consumers pay fair prices for energy. But during the call, D’Andrea took pains to make sure that out-of-state investors could feel safe that they’d keep the money they earned during this time."
Molly Taft reports for Earther March 17, 2021.
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