How The Texas Winter Storm Has Affected Power Contracts
By Clark Mindock (August 17, 2021, 5:59 PM EDT) -- When Winter Storm Uri sent Texas energy markets into a spiral six months ago, it also set off lasting changes in how energy producers and financiers structure power hedges and negotiate around potentially calamitous weather events.
Several power producers lost big during the storm — ranging from hundreds of millions to about $1 billion — after they were forced to buy energy resources from a spot market that skyrocketed during the February storm. In the wake of the chaos, attorneys have been working to shift their clients toward more forgiving deal structures that take into account the potential that future storms...
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