TXU, one of the private "competing" energy companies in Texas's utility market (deregulated since 2002), knowingly withheld power during the summer of 2005 in order to drive up electricity prices, costing consumers $70 million in direct impacts. TXU made $19.6 million in "extra profit" taken from Texans' pockets and perhaps more from the influence on "bilateral contracts" negotiated at the time based on the inflated prices.
Thursday, March 29, 2007
Further Sustaining Objections against Deregulation and Privatization of Public Services
TXU, one of the private "competing" energy companies in Texas's utility market (deregulated since 2002), knowingly withheld power during the summer of 2005 in order to drive up electricity prices, costing consumers $70 million in direct impacts. TXU made $19.6 million in "extra profit" taken from Texans' pockets and perhaps more from the influence on "bilateral contracts" negotiated at the time based on the inflated prices.
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