Texas appeals court says PUC set prices too high during Uri, Texas Tribune says

A Texas appellate court ruled that the state’s Public Utility Commission overstepped its authority during the deadly February 2021 Winter Storm Uri when it raised the price of electricity to the maximum $9,000 per megawatt-hour, reported The Texas Tribune. The appellate court "surprised the electricity world Friday," but the consequences for its decision were not immediately clear, as the court remanded the case for further consideration, the report noted. Stocks that could move on headlines related to the court ruling include Calpine (CPN), NRG Energy (NRG) and Vistra (VST). Reference Link