Contributors: Jim Coyne, Bob Yardley, Dan Dane, Danielle Powers, Forrest Small, John Stewart, Mark Cattrell, and Ruben Moreno

In Part 1 of this series, we discussed the urgent financial challenges facing energy regulators in Texas, Colorado, Oklahoma, and Minnesota as customers are confronted by the prospect of high electricity and natural gas bills now that power has been restored. Wholesale costs of electricity in ERCOT were $50.6 billion over a 3-day period, compared to $4.2 billion for a seven-day period ending immediately before the crisis began. We also noted the financial challenges facing utilities and retail suppliers that purchase electricity and natural gas in wholesale markets to serve their customers.