Andre1984
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Texas lawmakers propose electricity market bailout after winter storm
Lawmakers argue that spreading costs through the whole market — which will get passed through to consumers’ bills — is necessary to stabilize the state’s electricity market and prevent even higher costs.
www.texastribune.org
An approximately $2.5 billion plan to bail out Texas’ distressed electricity market from the financial crisis caused by Winter Storm Uri in February was approved by the Texas House Thursday.
The legislation would impose a fee — likely for the next decade or longer — on electricity companies, which would then get passed on to residential and business customers in their power bills. Lawmakers on Wednesday said they could not yet estimate how much it would impact Texans’ electricity bills.