Some Texans are being charged thousands of dollars for just a few days of energy use because of deregulation in the state that allows residents to buy wholesale power, which fluctuates up and down with the energy market instead of a fixed rate (regulated).
Tyson Slocum, director of Public Citizen’s Energy Program, explained the dire situation to Democracy Now:
We are seeing in these deregulated environments unscrupulous companies preying on their assumption that households will not understand or read the fine print.
Akilah Scott-Amos said her electricity bill jumped over $11,000 during the storm:
I have no problems with paying my fair share. But this is not fair.
(Source: Democracy Now)