Texans blinded by massive utility bills await details from Governor Greg Abbott’s promised relief
Gov. Greg Abbott and Texas lawmakers promise relief for Texans hit by massive utility bills after a winter storm devastated the state’s electrical grid and freeze millions of residents without electricity.
But how they achieve this remains unclear. The state’s deregulated electricity market not only enables fluctuating price peaks, but also effectively forces them for some customers.
While many Texans have power plans with “fixed tariffs” that protect them from market fluctuations, others pay tariffs tied to the spot price for wholesale electricity, which skyrocketed during the storm.
When the bad weather subsided, natural gas production and wind turbines froze, …