The leader of the Texas House of Representatives on Tuesday signaled he would not support requiring the state’s grid operator to cut billions of dollars from electricity pricing during a cold snap that upended the state’s power market. On Monday, the state Senate approved a proposal to order the state Public Utility Commission (PUC) to reduce electricity costs on power marketers during a February deep freeze. The proposal would reduce charges by about $5.1 billion including $900 million in fee cuts already approved by the PUC. Power costs soared to $47 billion, pushing three Texas electricity companies into bankruptcy and sparking a battle between lawmakers and the PUC over the handling of the crisis. But the decision to leave wholesale power prices at about 400 times the normal rate was “a proactive decision and not an error,” Speaker of the House Dade Phelan said in a tweet following a committee …
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