It's not the infrastructure that (temporarily) costs this much. It's the power that runs through it. There was simply no power.

> Unusually frigid temperatures knocked out nearly half of the state’s power plants in mid-February

They were short on the futures/forward contracts, i.e. they had to provide electricity, but there was none. When shit hits the fan someone has to foot the bill, and here it is them (among other such players).