CRC votes down electric deregulation...would have hiked rates
In one of those things you don't hear about in the news before the hearings take place, the Constitution Revision Committee voted down enshrining electricity deregulation that would be modeled after Texas. Having moved here from Texas, deregulation was sold as cutting electric costs, saving money, etc.
What actually happened is that rates skyrocketed as there was zero control over what they could charge, and profits soared as well. Texas Utilities, the largest company had profits reported at 35%. And as for competition, there was no control over what electric generation companies can charge. Plants were shut down creating a shortage o. The hottest days, allowing generation companies to hike rates from under $100 a megawatt to over $1000 a megawatt, and all it would take would be one company deciding to charge that, and that rate would automatically apply to all generation companies.
My electric bill here is half of what it was in Texas.
Write your Congresscritters and let them know that what we have with regulated rates is far better than what this deregulation would be.