Power Co. Hit With $15.8M Suit Over Texas Winter Storm Bill

Law360 (May 3, 2021, 8:37 PM EDT) -- Chemical manufacturing company Olin Corp. said in Texas federal court that it wants $15.8 million from Tenaska Power Services, which it says conflated terms of two contracts and wrongly tried to pass on costs it incurred from Texas' grid operator during February's historic winter storm.

In the lawsuit filed in federal court in Houston on Friday, Olin alleges Tenaska has reduced what it owes Olin by $12.4 million to account for price adders implemented by the Electric Reliability Council of Texas for operating during the storm, despite a contract that disallows that. Additionally, Olin told the court, Tenaska has withheld $3.4...

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