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A $28 billion power bill
Texans were promised that a deregulated electricity market would make power more affordable. Instead, it has cost residential customers $28 billion more than they would have paid at rates charged by the state’s traditional utilities, said Tom McGinty and Scott Patterson at The Wall Street Journal. The deregulated system has come under fire after severe weather left millions without power last month. Supporters of deregulation — a push led by Enron in the 1990s — promised more innovation and better service than monopoly utilities offered, because customers could “shop around for the best deals.”


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