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Texas PUC May Double Electric Prices Cap

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AUSTIN (AP) - The Texas Public Utility Commission will consider doubling the cap on wholesale electricity prices in hopes of convincing generators to build more power plants.

The commission is likely to approve the increase on Thursday, four months after it approved a 50 percent boost.

Chairwoman Donna Nelson says raising the price is necessary to encourage more plant construction and ensure enough power is available during peak periods.

Companies have complained that they are not getting paid enough for their investments in power plants, and generating capacity has gone down. But consumer groups worry a wholesale increase will trickle down to monthly household electric bills for most Texans.

The latest proposal would raise the cap on prices from $4,500 per megawatt hour to $9,000 a megawatt hour.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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