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Texas Electric Bills Were $28 Billion Higher Under Deregulation
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| Contributor | RP |
| Last Edited | RP Feb 24, 2021 10:33am |
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| Category | Analysis |
| Author | Tom McGinty and Scott Patterson |
| News Date | Wednesday, February 24, 2021 10:30:00 AM UTC0:0 |
| Description | Texas’s deregulated electricity market, which was supposed to provide reliable power at a lower price, left millions in the dark last week. For two decades, its customers have paid more for electricity than state residents who are served by traditional utilities, a Wall Street Journal analysis has found.
Nearly 20 years ago, Texas shifted from using full-service regulated utilities to generate power and deliver it to consumers. The state deregulated power generation, creating the system that failed last week. And it required nearly 60% of consumers to buy their electricity from one of many retail power companies, rather than a local utility.
Those deregulated Texas residential consumers paid $28 billion more for their power since 2004 than they would have paid at the rates charged to the customers of the state’s traditional utilities, according to the Journal’s analysis of data from the federal Energy Information Administration. |
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