Natural gas customers in Texas get stuck with $3.4 billion cold-snap surcharge

Natural gas customers in Texas get stuck with $3.4 billion cold-snap surcharge

2 years ago
Anonymous $FNmJglWnLu

https://arstechnica.com/tech-policy/2021/11/natural-gas-customers-in-texas-get-stuck-with-3-4-billion-cold-snap-surcharge/

Texans will be paying for the effects of last February’s cold snap for decades to come, as the state’s oil and gas regulator approved a plan for natural gas utilities to recover $3.4 billion in debt they incurred during the storm.

The regulator, the Railroad Commission, is allowing utilities to issue bonds to cover the debt. As a result, ratepayers could see an increase in their bills for the next 30 years.