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Insurance Company sues Texas power grid operator, tools over winter storm



More than 100 insurance companies have filed a lawsuit against a Texas power grid operator and dozens of electric companies in the state court to claim compensation for losses incurred as a result of the power outage following a February 2021 storm that affected more than 4.5 million households.

The lawsuit, filed in a state court in Austin last week, accuses the Austin-based Electric Reliability Council of Texas Inc., which was the sole administrator and independent system operator for the power grid and power generation company that supplies the ERCOT system's electrical energy. were aware of the potential risk, but failed to take any action.

The lawsuit alleges that homes and businesses throughout ERCOT's system suffered damage from blown water pipes and low water pressure as a result of the Winter Storm Uri, which began on February 1

5, and that at least 57 people died "in connection with the extreme weather and resulting power outages. . "

The trial also says that if ERCOT and the power suppliers could have been prepared for the storm, they failed to do so satisfactorily and that ERCOT's own published forecasts for the winter season 2020-21 predicted that the state" would be thrown out into the highest state of emergency "if an extreme weather event occurred.

The 84-page trial accuses the defendants of negligence and demands unspecified compensation for payments made by insurance companies to their insured due to the storm.

ERCOT said in a statement that they do not comment on ongoing litigation. [19659002] A spokesman for the Austin-based Insurance Council of Texas, an industry organization that is not a party to the litigation, said the lawsuit "is basically part of the subrogation process," with insurance companies trying to recover the losses they incurred, and similar to litigation filed in California and elsewhere. [19659002] In 2019, California power producer PG&E Corp. said. that they had reached a $ 11 billion settlement with entities representing approximately 85% of insurance subrogation claims related to the 2017 and 2018 forest fires.


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