Electricity prices rose 10,000 percent in the second most populous state in the U.S., where millions of households have had their power outages for days due to snow and frost. President Joe Biden declared the state of Texas a disaster area over the weekend.

After barely a week of consumption, many people in Texas have received electricity bills in excess of five thousand dollars, where the consumer price is tied to the wholesale price for the majority of households. THE Dallas Morning News reported that the state energy provider sent out such large bills to consumers in the Dallas and Fort Worth area. In San Antonio, the energy provider promises to provide a down payment discount for up to ten years.

Governor Gregg Abbott discussed with the authorities over the weekend how to alleviate the shock to consumers in Texas with their electricity bills.

The basic problem is that it cost $ 50 a megawatt hour of electricity before the cold wave, but now it has gone up to $ 9,000. Why? Because natural gas-fired power plants have been blown away by the cold. Texans accustomed to a mild climate, on the other hand, turned on the heating. As a result, the system has shut down in many places. This led to huge power outages that the energy supplier used in the rotating system.

Find another provider! This is recommended by the state-owned company to its 30,000 subscribers in the event that they overwhelm the bill. In Texas, the principle of the free market applies: everyone gets their energy from where they want it. Consumers usually sign a contract with a service provider for one month. “Many Texas citizens are unaware of what they have signed,” said Democrat Gene Wu Dallas Morning Newchat.

Power was restored on Sunday in Texas, where water shortages are now a growing concern. This is because some of the wells are frozen, and as a result many families have difficulty accessing water.

Governor Abbot stated that “the power outage is unacceptable.” He urged steps from Texas lawmakers to change the system. Texas’ losses are estimated at $ 50 billion.

Washington has also indicated that federal authorities are investigating major power outages and horrible electricity bills in Texas and other parts of the U.S.. Business Insider.

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