CU Guru [1875]
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Texas Electric Bills Were $28 Billion Higher Under Deregulation
[1]
Posted: Feb 24, 2021, 9:18 PM
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https://www.wsj.com/articles/texas-electric-bills-were-28-billion-higher-under-deregulation-11614162780
"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."
"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."
"None of this was supposed to happen under deregulation. Backers of competition in the electricity-supply business promised it would lower prices for consumers who could shop around for the best deals, just as they do for cellphone service. The system would be an improvement over monopoly utilities, which have little incentive to innovate and provide better service to customers, supporters of deregulation said."
"“If all consumers don’t benefit from this, we will have wasted our time and failed our constituency,” then-state Sen. David Sibley, a key author of the bill to deregulate the market, said when the switch was first unveiled in 1999.'"
"From 2004 through 2019, the annual rate for electricity from Texas’s traditional utilities was 8% lower, on average, than the nationwide average rate, while the rates of retail providers averaged 13% higher than the nationwide rate, according to the Journal’s analysis."
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CU Medallion [58446]
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Joined: 11/30/98
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Cali income state taxes were trillions higher than Texas
[2]
Posted: Feb 24, 2021, 9:46 PM
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I think they come out ahead. Not to mention house prices mega trillions lower than calis
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CU Guru [1875]
TigerPulse: 91%
Posts: 1859
Joined: 1/22/12
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What does this have to do with Cali?
[1]
Posted: Feb 26, 2021, 2:13 PM
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Texas legislators caused their constituents to lay more for power than they needed to because they were too stupid to foresee how deregulation would end up causing higher, not lower energy prices to consumers.
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Oculus Spirit [77680]
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they are basically cartels
[3]
Posted: Feb 24, 2021, 10:15 PM
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much like our health insurance companies. When the entry fee is so high that you only have a handful of players in the market, you are not going to see a whole lot of competition.
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Legend [15302]
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Joined: 7/31/10
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Had the same thought before I ever read your post...***
Posted: Feb 24, 2021, 11:56 PM
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Orange Blooded [3824]
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Government backed, instituted, and regulated cartels.***
Posted: Feb 25, 2021, 12:06 AM
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Oculus Spirit [77680]
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Joined: 9/10/03
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Re: Government backed, instituted, and regulated cartels.***
Posted: Feb 26, 2021, 2:17 PM
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right, our shiddy free-market healthcare system the federal government's fault, just like Texas' independent energy grid, Fed's fault. Why more people can not understand this is baffling.
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Orange Blooded [3824]
TigerPulse: 72%
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We don't have a free market healthcare system.***
Posted: Feb 26, 2021, 3:37 PM
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Orange Blooded [3824]
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Joined: 8/6/10
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This is a lie. It isn't deregulated.***
Posted: Feb 25, 2021, 12:06 AM
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CU Medallion [70182]
TigerPulse: 100%
Posts: 44695
Joined: 3/18/07
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lulz...***
Posted: Feb 26, 2021, 3:51 PM
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