The state’s Public Utility Commission last week lowered the maximum allowable wholesale price for electricity by almost half, from $9,000 per megawatt hour to $5,000.The move came after prices soared to the maximum during last February’s deadly freeze, causing financial havoc along with the widespread power outages. A number of electric providers declared bankruptcy after being faced with enormous bills, including Brazos Electric Power Cooperative and Griddy Energy.As the Austin American-Statesman reported, the state’s largely deregulated electricity market provides financial incentives to prompt power generators to deliver more electricity to the grid during peak demand. But those incentives came with ...