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I'm not fully convinced he is a "bad guy" with your quotes. Don't get me wrong, I'm a consumer, and I don't want sky high rates, but hear me out. He was on a c
by geoduck14 6y ago
I'm not fully convinced he is a "bad guy" with your quotes. Don't get me wrong, I'm a consumer, and I don't want sky high rates, but hear me out.
He was on a call with a bunch of investors. He wants those investors to be reassured everything is OK. He might tell them the truth. He might lie. At face value, it looks like there was a contractual agreement: gas costs X, you will get paid X. And nothing can change that.
Except something CAN change that contract. Bankruptcy courts are empowered to retroactively change contracts (IANAL!)- AND some groups (like Brazos Electric) are suing ERCOT to reduce the cost.
So ERCOT might be in a tough spot: they pay investors lots of money, and they don't get paid lots of money from consumers like Brazos Electric.
D'Andre might be setting ERCOT to be tossed around by the court or perhaps to become insolvent.
- selimthegrim 6y agoD'Andrea has resigned as per updates in the article.
- geoduck14 6y agoThat makes me feel better.