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General Comments / Re: How's that free market working out in Texas?
« on: March 05, 2021, 02:04:41 PM »
And the Texas Public Utilities Commission has signaled it won't try to reverse the $16 billion in overcharges because it's just too darned hard.
I guess the co-opts already bankrupted don't count.
Besides, just imagine how much it would cost to try to untangle that web, for a mere $16 billion.
Quote
Commission Chairman Arthur C. D’Andrea said it was too difficult to reprice the energy markets and involved too many uncertainties.
“It is impossible to unscramble this sort of egg,” he said.
Mr. D’Andrea said there were so many hedges and private transactions outside the view of the commission that taking a step designed to help consumers might have unintended consequences. “You think you’re protecting the consumer and it turns out you’re bankrupting a co-op or a city,” he said.
I guess the co-opts already bankrupted don't count.

Besides, just imagine how much it would cost to try to untangle that web, for a mere $16 billion.
