The Darkside Of Deregulation

As someone who is a fan of deregulation, I was not happy to read this piece in the Wall Street Journal.  Texas’s deregulated electricity market, which was supposed to provide reliable power at a lower price, left millions in the dark last week. If that weren’t bad enough.  For two decades, its customers have paid more for electricity than state residents who are served by traditional utilities, a Wall Street Journal analysis has found. (Wall Street Journal)

Those deregulated Texas residential consumers paid $28 billion more for their power since 2004 than they would have paid at the rates charged to the customers of the state’s traditional utilities, according to the Journal’s analysis of data from the federal Energy Information Administration.