PUC Approves Higher Prices for Wholesale Electricity
IndustryTracking the players in the ever growing energy and environmental world. abstained.
Before today vote, the wholesale price of electricity had been capped at $3,000 per megawatt hour. Under the new rule that will rise to $4,500. It's meant to make the business of selling power in Texas more profitable. Supporters say that's necessary to encourage investment in new power plants.
"We don't require the building of generation in Texas. We set up the market forces so that generators want to come to Texas, PUC Chair Donna Nelson told StateImpact Texas after Fake Beats By Dre Melbourne the vote.
Commissioner Anderson, the one abstaining vote, had long been skeptical of raising the cap this year. Before the vote he argued again that the price hike would not impact power plant construction by the end of the summer.
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"I'm just not convinced, as I wasn't back in April, that it was necessary to do it for this summer. My preference was, and in the end remains that market participants, particularly load serving entities, need more time to adjust to this change."
In April, Anderson had said power companies would be "carting money away not in wheel barrows, but in Mack trucks," if the vote was approved this summer.
The move is part of an effort to get companies to build more power plants at a time when officials worry the Texas may not have enough electricity to avoid rolling blackouts in long term. But some groups worry that the price hike could mean higher electric rates for consumers.
"No one knows how much this will cost Texas," saidTexas Coalition for Affordable Power Board President Jay Doegey, "or even whether it will result in more generation coming online. But one outcome seems likely: Texas consumers will end up paying more."
Right now, there is no comprehensive analysis Longchamp Australia Price of consumer impact, and the estimates that exist have varied widely from Cheap Longchamp Bags Uk a two percent hike per household Jeremy Scott Bart Simpson to an increase amounting to $200 for every person in Texas.
This post has been updated with added reaction. StateImpact Texas intern Robb Jacobson contributed reporting to this article.
The current position of the PUC incentivizesmarket manipulation and artificial power shortages for extraordinary profits. It does NOT encourage the voluntary increase in generating capacity. Regualted electricity markets in the USA have historicallyproduced some of the lowest electric rates in the entire world for several generations!
Thanks to George W. Bush andthe corrupt GOP (and their cronies like former crooksEnron and Ken Lay and Beats Dr Dre current Governor Rick Perry and his PUC commissioners)Texas consumers get the royal shaft in electric pricing and reliability with no real solution in sight.
In 2009 we were paying .10/kw. Today we are paying .0587/kw. Competition between the power providers has reduced the cost to my business by 40% and we have hired workers and bought equipment. The Jeremy Scott Adidas Pants service that I get from Centerpoint has not changed but I have changed power providers. The price of power from natural gas has dropped substantially for generator. A 7 heat rate power plant times $2.5 natural gas equals a cost of production of a mw to $22. That means that they can put the kw on the grid for .022/kw. Yes they have some cost for construction and operations. So with Longchamp Tote Bag Price all that being said, I believe that competition within texas has been a good thing.
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