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Budget 2021:

What the budget means for your taxes, housing, pensions and more

How announcements made by chancellor Rishi Sunak will impact your income and finances

Biden says US will lead way on 'existential' climate crisis

The Biden administration has drafted an order imposing a moratorium on oil and gas auctions on federal land and water, according to reports

Latest stories

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  • Kim Zolciak-Biermann and Kroy Biermann Test Positive for COVID: ‘Very Thankful For Our Doctors’

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  • David Harbour gets Covid vaccine and tells fans to ‘protect the ones you love’

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  • Long US prison stay for Canadian drug mule who used river

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  • White House urges Texas and Mississippi residents to follow CDC mask guidance after states drop mandates

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  • All UK adults could get Covid vaccine dose by June if supply speeds up

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  • Why Google Will Stop Selling Ads Based on User-Tracking Data

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  • Rishi Sunak accused of ‘naked pork barrel politics’ as billions of pounds of ‘levelling up’ cash handed out

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  • Why Plug Power Stock Just Dropped Again

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  • Alamo Drafthouse Cinemas files for bankruptcy, seeks buyer

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  • Welsh health minister doubts festivals will take place this summer

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  • Byron Allen Acquires Civil Rights-Era Biography ‘From Selma to Sorrow’ — Film News in Brief

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  • Dozens of African migrants thrown overboard by smugglers and feared dead - IOM

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  • Rishi Sunak’s Budget: what you need to know

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  • Playwright Charly Evon Simpson Inks Overall Deal With HBO

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  • Texas Clawing Back Payments For Grid Services Never Provided

    (Bloomberg) -- Texas regulators voted to claw back some payments to power generators for services they never actually provided during the state’s massive blackouts last month.The move could save an estimated $80 million to $150 million, according the independent market monitor for Texas’s grid, which recommended the change. The Public Utility Commission of Texas agreed Wednesday to adopt the monitor’s recommendation, saying retailers and others shouldn’t pay for so-called ancillary services to help smooth power flows on the grid if they weren’t delivered.“That’s a no brainer,” Arthur D’Andrea, one of the two Texas commissioners, said during the hearing. “They were paid for something they didn’t do.”The move is the first significant step by regulators to address the astronomical power bills during the unprecedented cold blast that crippled the state’s grid. At peak, more than four million homes and businesses were without electricity, and power prices soared to record levels. The impact on individual companies is only starting to emerge.Also See: Texas Names Power Providers Short on Payments After FreezeThe two members of the commission also expressed support for capping the price of certain grid services at $9,000 a megawatt-hour for Feb. 15 through Feb. 20 -- a move that would save consumers $2 billion, Carrie Bivens, Ercot independent market monitor director at Potomac Economics, said in an interview. The commissioners didn’t, however, take formal action on that matter.In some instances, ancillary service prices during the cold snap jumped above $20,000 a megawatt-hour. Ancillary services help the grid operator maintain reliability on the system, including by infusing the grid with quick bursts of energy that stabilize the flow of electricity. Regulators didn’t say how much the payments totaled for services that were never delivered.(Adds market monitor estimates in second and fifth paragraphs.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.