AUSTIN, Texas (AP) — With summer temperatures soaring, the Texas Public Utility Commission is set to vote on raising the price cap on wholesale electricity rates by 50 percent.
The hope is that the lure of more profits will spur construction of power plants to help the state meet future energy demands.
But the state’s large industrial users claim the increase could cost billions of dollars. Consumer groups worry a wholesale increase will trickle down to monthly household electric bills for most Texans.
And Thursday’s vote could be just the start. Commissioners are considering — but not yet voting on — a plan to triple the wholesale price starting in the summer of 2013.
