Texas’ utility regulator had an opportunity Friday to eliminate some of the $16 billion that the state’s grid operator erroneously overcharged power companies during last month’s deadly winter storm — but the board of the Public Utility Commission chose not to do so.

Some Texas electricity customers could have benefited from a decision to readjust the electricity market prices for the week of the storm, according to PUC Chair Arthur D’Andrea and some independent analysts. But other customers could have been harmed by such a move, D’Andrea said.