Texas's deregulated electricity market raised consumer costs by $28B: WSJ

[DonViejo]

BY LEXI LONAS - 02/24/21 11:12 AM EST

Texas’s deregulated electricity market has raised costs to consumers by $28 billion since 2004, according to a Wall Street Journal analysis published Wednesday.

The analysis found that consumers purchasing power from the deregulated electricity market have paid significantly more than state residents whose sources were traditional electric utilities.

The report comes in the wake of widespread power outages in Texas that left millions of residents without power for days amid freezing temperatures. That was followed by many households receiving sky-high electricity bills, with warnings from experts that consumers are likely to be hit with covering the costs for grid upgrades.

The decision to have a deregulated electricity market stems back to 1999 when legislation was first introduced to deregulate the market in Texas. Supporters of the bill said it would create more competition in the sector and lower prices for consumers.

more
https://thehill.com/homenews/state-watch/540271-texass-deregulated-electricity-market-raised-cost-to-consumers-by-28

[Faux pas]

1. Kickin' with disgust!

[pandr32]

2. The big free market lie

"...create more competition in the sector and lower prices for consumers."