June 18 (Reuters) – Just Energy Group Inc said on
Friday it expects to recover about $100 million in costs related
to a winter storm in February, if the Texas utility commission
approves a relief bill financing signed by the state governor.
Texas Governor Greg Abbott on Wednesday signed a House bill
providing a mechanism for recovery of certain costs incurred by
various parties during the extreme weather event, which sent
electricity prices soaring and utilities scrambling to meet a
surge in heating demand.
Total electricity charges jumped by about $47 billion during
the storm that also knocked out nearly half of the state’s power
plants.
The Ontario-based electricity and gas provider in March had
filed for creditor protection in Canada and the United States,
citing massive costs from the cold snap. (https://reut.rs/3q94WVa)
(Reporting by Sahil Shaw in Bengaluru; Editing by Ramakrishnan
M.)
