Despite the soothing,Â pachouli-scented tones of Matthew McConaughey’s voice reminding all of us that Reliant is “totally alright, brother,” electricity deregulation may not have been that great for Texas consumers. The Texas Coalition For Affordable Power found that Texans have paid an extra $10.4 billion for electricity under deregulation. That’s mostly due to a run-up in electric rates between 2005 and 2008, when natural gas prices skyrocketed, the Texas Observer reports.
While the number – $10.4 billion! — is jarring, TCAP reports that, percentage-wise, Texas is fairly middle-of-the-pack. The 48 percent leap since 1999 trails the nation’s largest jump – Michigan – by 12 percent.
For the masochists in the bunch, there’s a 100-page report to parse through after the jump.