Texas House leader signals he will not support electricity repricing proposal

(Reuters) – The leader of the Texas House of Representatives on Tuesday signaled he would not support requiring the state’s grid operator to cut billions of dollars from electricity pricing during a cold snap that upended the state’s power market.

Speaker Dade Phelan in a tweet called the proposal “an extraordinary intervention into the free market” and one that may have “major consequences” for consumers. The proposal passed the state Senate on Monday and also requires a House vote.

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