Who’s really left holding the bag for those sky-high electricity bills in Texas?
As Texas thaws from a winter storm that left customers with sky-high electricity bills, state and federal lawmakers are rushing to find a way to make up for the costs. With customers owing billions of dollars, it is unclear who will be left holding the bag.
“We’re all going to pay for it some way, meaning taxpayers, shareholders or customers,” said Michael Webber, a professor of energy resources at the University of Texas at Austin. “But it’ll take a few months for details to shake out.”
Gov. Greg Abbott announced last weekend that the state’s Public Utility Commission had put a moratorium on customer disconnections for nonpayment to address the exorbitant bills, and he has met with legislators about how the state can help reduce the electricity cost burden on consumers.