The fallout from 2021 Winter Storm Uri rolled into the Texas Supreme Court, where during oral arguments the justices were asked to affirm or reverse a wholesale-pricing dispute with billions of dollars at stake.

The case, Public Utility Commission of Texas v. Luminant Energy Co. LLC, includes nearly a dozen electric power generating companies that accused the PUC of illegally adopting two pricing rules that allowed the Electric Reliability Council of Texas to increase the emergency price of electricity by 650% for five days.