Cost of last year’s winter storm could reach $300 billion, new report says

The winter storm last February that led to the deaths of hundreds of Texans could have an ultimate economic impact of up to $300 billion.

— said Geoff Roberts, chairman of the Beyond Storms Infrastructure Network Resilience Task Committee, which produced the report.

“The ERCOT energy-only market structure prioritized low cost over reliability. This has predictably led to chronic underinvestment in reliable generation and is directly responsible for the ongoing erosion of reliability from dispatchable generation,” the report states. The ERCOT communications department could not immediately respond to a request for comment on the report’s “run-to-fail” claim and said in an email the agency was fielding “large numbers of media inquiries.”

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