Those closely familiar with Texas's energy market say these power costs are less a bug than a feature of the state's deregulated system. The spot electricity prices therefore shot way up in response. Some customers pay market pricesThe vast majority of Americans, and even Texans, do not pay the direct market price of electricity at any given moment. He said it was "very shocking" when he opened his latest electricity bill. The company attempted to cast blame on PUCT for setting the electricity price at $9 per kilowatt hour.

Source: The Nation February 23, 2021 22:41 UTC