Let the market decide!
Texas Lt. Gov. says that people getting huge energy bills 'gambled on a very, very low rate' - but suggests they won't have to pay the full amount
Tom Porter
Thu, February 25, 2021, 11:12 AM
Texas Lieutenant Governor Dan Patrick said that Texans faced with huge electricity bills "gambled" in the hope of a cheap deal, and ended up losing.
Patrick commented Wednesday on the large charges facing some in the wake of the devastating winter storms in his state. He suggested that those in trouble would likely get help, but said that in the future customers should "read the fine print" of such deals.
"I saw the story about the high bills," . "Let me explain that. We have in Texas, you can choose your energy plan and most people have a fixed rate. If they had a fixed rate per kilowatt hour, their rates aren't going up."
"But the people who are getting those big bills are people who gambled on a very, very low rate," Patrick continued. "But I've told those folks, do not panic. We are going to figure that out."
"But going forward, people need to read the fine print in those kinds of bills and we may even end that type of variable plan because people were surprised."
His comments follow reports detailing huge price hikes that hit some Texans. One Army veteran
The customers faced with the huge bills rather than as part of a fixed price contract. The deals are a unique part of Texas' deregulated energy market.
Texas Lt. Gov. says that people getting huge energy bills 'gambled on a very, very low rate' - but suggests they won't have to pay the full amount
Tom Porter
Thu, February 25, 2021, 11:12 AM
Texas Lieutenant Governor Dan Patrick said that Texans faced with huge electricity bills "gambled" in the hope of a cheap deal, and ended up losing.
Patrick commented Wednesday on the large charges facing some in the wake of the devastating winter storms in his state. He suggested that those in trouble would likely get help, but said that in the future customers should "read the fine print" of such deals.
"I saw the story about the high bills," . "Let me explain that. We have in Texas, you can choose your energy plan and most people have a fixed rate. If they had a fixed rate per kilowatt hour, their rates aren't going up."
"But the people who are getting those big bills are people who gambled on a very, very low rate," Patrick continued. "But I've told those folks, do not panic. We are going to figure that out."
"But going forward, people need to read the fine print in those kinds of bills and we may even end that type of variable plan because people were surprised."
His comments follow reports detailing huge price hikes that hit some Texans. One Army veteran
The customers faced with the huge bills rather than as part of a fixed price contract. The deals are a unique part of Texas' deregulated energy market.
