Texans Face Skyrocketing Energy Bills

As readers have noted, I've not been defending Texas state officials, neither Governor Abbott nor Senator Cruz.

That said, perhaps the governor and senator can redeem themselves by vacating the high energy bills Texas residents are facing due to the failed power grid, which, once more, was no fault of their own.

At NYT, "His Lights Stayed on During Texas’ Storm. Now He Owes $16,752":

After a public outcry from people like Scott Willoughby, whose exorbitant electric bill is soon due, Gov. Greg Abbott said lawmakers should ensure Texans “do not get stuck with skyrocketing energy bills” caused by the storm.

SAN ANTONIO — As millions of Texans shivered in dark, cold homes over the past week while a winter storm devastated the state’s power grid and froze natural gas production, those who could still summon lights with the flick of a switch felt lucky.

Now, many of them are paying a severe price for it.

“My savings is gone,” said Scott Willoughby, a 63-year-old Army veteran who lives on Social Security payments in a Dallas suburb. He said he had nearly emptied his savings account so that he would be able to pay the $16,752 electric bill charged to his credit card — 70 times what he usually pays for all of his utilities combined. “There’s nothing I can do about it, but it’s broken me.”

Mr. Willoughby is among scores of Texans who have reported skyrocketing electric bills as the price of keeping lights on and refrigerators humming shot upward. For customers whose electricity prices are not fixed and are instead tied to the fluctuating wholesale price, the spikes have been astronomical.

The outcry elicited angry calls for action from lawmakers from both parties and prompted Gov. Greg Abbott, a Republican, to hold an emergency meeting with legislators on Saturday to discuss the enormous bills.

“We have a responsibility to protect Texans from spikes in their energy bills that are a result of the severe winter weather and power outages,” Mr. Abbott, who has been reeling after the state’s infrastructure failure, said in a statement after the meeting. He added that Democrats and Republicans would work together to make sure people “do not get stuck with skyrocketing energy bills.”

The electric bills are coming due at the end of a week in which Texans have faced a combination of crises caused by the frigid weather, beginning on Monday, when power grid failures and surging demand led to millions being left without electricity.

Natural gas producers were not prepared for the freeze either, and many people’s homes were cut off from heat. Now, millions of people are discovering that they have no safe water because of burst pipes, frozen wells or water treatment plants that have been knocked offline. Power has returned in recent days for all but about 60,000 Texans as the storm moved east, where it has also caused power outages in Mississippi, Louisiana, West Virginia and Ohio.

The steep electric bills in Texas are in part a result of the state’s uniquely unregulated energy market, which allows customers to pick their electricity providers among about 220 retailers in an entirely market-driven system...

No state, especially nominally "Republican" states like Texas, should be in need of MORE federal regulation of their energy markets, but I'll be damned if I said that Texas should benefit from some kind of exceptions. I mean, the screwballs in Austin (and Houston, Sen. Cruz's residence) messed up, and bad. Frankly, Alexandria Ocasio-Cortez is doing a better job helping Texans than any of the elected officials in the Lone Star State, which must be embarrassing, frankly.

More at the link, FWIW.