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Texas Cold Snap Update: Utility Surcharge Approved and “ratepayers could see an increase in their bills for the next 30 years.”
Utility companies proposed ratepayers pay to “weatherize their facilities to withstand future freezes..” Sate’s utility regulator approved customer-funded plan to recover utility debt during the storm. State’s oil and gas regulator approved a plan for natural gas utilities to recover $3.4 billion in debt they incurred during the storm. The regulator, the Railroad Commission, allowing utilities to issue bonds to cover the debt. Ratepayers could see an increase in their bills for next 30 years. Many natural gas-fired power plants had to shut down because they weren’t weatherized—their equipment was frozen..Gas sellers made record profits in just a few days,bringing in $11 billion, about 70–100 times more than normal,
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