Chronicle: Texas wholesale market, facing shortage, is acting strangely
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22 May 2012
It's a riddle the Mad Hatter would love: Natural gas prices fall to a decade low. Electricity prices in Texas are pegged to natural gas prices. So what happens to electricity prices? Why, they go up, of course.
Next month, the Public Utility Commissionof Texas is set to vote on a plan to raise the ceiling on wholesale electricity prices by 50 percent as early as August.
Lower gas prices were finally supposed to justify the costly fiasco of deregulation. Now, that promise, like so many others related to deregulation, has evaporated.
