Yesterday, I received the following evaluation, in point form, of last week’s winter storm and its financial repercussions from Keith Maxwell, CEO of Spark Energy. Due to dramatic consumer price increases in electricity that occurred last week, caused by increased prices of electric generation, many individuals and businesses will receive enormously high electric bills. Many energy retailers, who do not generate the electricity, but only distribute it, may be forced into bankruptcy, because of the huge increase in their cost of electricity caused by the increase in the price of natural gas needed to produce the electricity. Gov. Greg Abbott, Lt. Gov. Dan Patrick, Speaker Dade Phelan, and the Texas Legislature must act quickly to prevent an economic crisis in the electric energy sector of our state. Keith Maxwell lays out the solution in the following point form. Click Here to Read More... |