It would require the owners of all power generators, transmission lines, natural gas facilities and pipelines to protect their facilities against extreme weather. (Bloomberg) — The Texas Senate passed a sweeping bill to overhaul the state’s electricity market following last month’s historic blackouts by forcing power plants to winterize and barring the type of business model used by Griddy Energy. The measure, which still needs approval by the state’s House of Representatives, would require the owners of all power generators, transmission lines, natural gas facilities and pipelines to protect their facilities against extreme weather or face a penalty of up to $1 million a day. Nearly half of Texas’s power-plant capacity went down in February after a severe winter storm froze equipment, halted gas supplies and triggered blackouts that left more than 4 million homes and businesses in the dark for days. More than 100 people died during the […]