Texas regulators on Thursday moved to raise the price cap for wholesale power by 50 percent this summer as a first step to prevent the close call seen last year when a record heat wave strained electric supplies and threatened outages.

The Public Utility Commission of Texas voted 2-1 to move forward with a proposal that would allow wholesale prices to climb to $4,500 per megawatt-hour when supplies are tight, up from the current $3,000 price cap.

Find the full story on www.reuters.com.