Thursday, Oct 08th

Last update09:15:17 PM GMT

You are here News Energy Texas' electric deregulation cost: $11 bln in higher rates

Texas' electric deregulation cost: $11 bln in higher rates

E-mail Print PDF

ERCOTA report released Monday concludes that electric deregulation has cost Texas residential consumers more than $11 billion in higher rates and that the operator of the state's major power grid, the Electric Reliability Council of Texas, has been poorly managed and industry-dominated.

The 101-page report, "The Story of ERCOT," is the result of a research project of the Steering Committee of Cities Served by Oncor and the Texas Coalition for Affordable Power, which works with 158 cities and other governmental entities to buy electricity in bulk.

Deregulation, it said, has resulted in higher rates for Texas power consumers rather than the lower rates forecast by lawmakers who passed the state law in 1999.

Before deregulation, Texas had cheaper rates than most states. Between 1999 and the first six months of 2010, however, Texas residential consumers "suffered greater increases [in electric rates] than residents in all but six other states," the report said.

"Had electric prices remained at the national average -- not below it, just at it -- Texas residential consumers would have saved more than $11 billion since the implementation of deregulation," the report said, citing data compiled by the U.S. Energy Information Administration.


Most Recent Related Stories...

Oil Industry Needs to Find Half a Trillion Dollars to Survive

Oil indusctry needs a trillion dollarsAt a time when the oil price is languishing at its lowest level in six years,...

Oil Services Co.,Baker Huhes, lays off 10,500

Baker Hughes "Extreme market forces" are in play in the global energy sector, oil services company Baker...

Aircraft to start hunt for Atlantic oil off East Coast

Aircraft hunting oil An aerial hunt for oil and natural gas reserves in the Atlantic Ocean is poised to...

Japan now has more car charging points than gas stations

Japanese charging pointsNissan Motor Co. has reported that Japan now has more places to charge electric vehicles than...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!