Insurance companies line up to sue ERCOT

As the one-year anniversary of the winter storm that left millions without power approaches, more than 100 insurance companies are suing the state’s main power grid operator and a number of electricity providers, the Austin American-Statesman reported.

Defendants are the Electric Reliability Council of Texas, as well as companies that supply power through ERCOT. The power failure caused more than $10 billion in property damage, primarily to residences.

The suit claims ERCOT “failed to adequately prepare for the 2020-2021 winter season, and in fact, planned to fail,” noting that the agency had projected the state would end up in the highest state of emergency in the event of an extreme weather event, the Statesman reported.

ERCOT controls nearly all the state’s power grid.

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