Texas Regulators OK Wholesale Electricity Price Hike
The highest wholesale prices on the Texas electrical grid will be allowed to rise by 50 percent starting in August, following a vote by state regulators.
The Texas Public Utility Commission voted 2-0, with one abstention, to raise the "wholesale price cap," which electricity prices sometimes hit on hot summer afternoons. (The most recent such case was Tuesday.)
The idea is to allow power plant owners to make more money on electrical generation — which could give them an incentive to build more plants to supply the state's growing population. Right now they are not building new plants because of ...
Comments (6)
Chris Heiman via Texas Tribune on Facebook
And who pays? We the consumers!
gypsy314 ne
Wow nothing in writing say the power plant will be built? I think it is time for a new PUC panel. Why such a big increase all at once?? Um something smells here.
Papa Ray
A fifty percent increase, with no requirement that any of that money be spent to expand or improve the grid. More stupidity from the politicians and those that are supposed to be looking out for the consumer.
OK great...The feds are going to rape us even more over health care, immigration and EPA, so I guess that giving the State of Texas their turn in the saddle sounds fair.
Except of course us stupid, uninformed and willing to be raped taxpayers.
This is getting old and we are starting to get really pissed at all this. Beware - because if you push much more you are going to be finding out how we really feel.
What part of broke and in debt, do you not understand? And I'm not talking about the power plant owners either.
Papa Ray
D W
so the power companies can charge more (potentially raising rates as much as 50%??). since they weren't required to agree to build new power plants (or even expand current ones, or fix them?). so why would any business invest billions to build a new plant, that increases their costs , and they have no guarantee that they would ever get their money back, let alone make more? and then we will be wondering why businesses are leaving the state. it wont be the drought. it will be the high cost of electricity lowering their taxes wont help them much if at all. as it is we are already a high cost electricity state
Heather Mayfield via Texas Tribune on Facebook
Gotta love this state! Raise prices in HOPES it encourages the already rich people who could already be investing in new power plants to build power plants? Nope... someone gots paid is what happened here! Guess what... we get to make the rich already richer and see not ONE BENEFIT from it. Ever since the dumbass trickle down effect companies no longer are FORCED to put their money back into their companies or see it disappear in taxes. Now that they can just line their pockets... it is exactly what they do. The average american is so uneducated on what Reganomics actually stole from them. And here goes more reganomics.. make rich richer and *maybe* they will invest back in you. Now why in the hell would they do that when they can make themselves ever so much richer? Idiots.
John Clemens
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