Natural gas prices have soared, and gas-generation plants produce the most electricity in the state -- and set the market rate.
. That’s up from 10.5 cents in June 2021, according to data provided by the Association of Electric Companies of Texas.
For a family using 1,000 kWh of electricity a month, that translates into a monthly increase of roughly $80. Over a full year, that would sap nearly $1,000 extra from the family budget., associate state director for AARP Texas. “There’s going to be some real sticker shock here.” Residents choose electric plans from among dozens of private-sector offers, which typically run for one to three years. As a contract ends, they must select a new one or get pushed into a month-to-month plan with even higher rates.
By his calculations, today’s average residential rate is about 70% higher than what was offered a year ago. He’s especially concerned about the impact on retirees living on fixed incomes.in December. “But that’s no match for a 70% increase in electricity,” Morstad said. “This is a must-pay bill.”
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