The Facts
- Regulations such as price caps distort market forces; those distortions lead to more regulation, unless the cycle is consciously stopped.
- Renewable energy subsidies only benefit investors; consumers are forced to pay for the discounts in energy with higher taxes.
- Texas’ electricity market has helped the state become the best environment for business in the nation.
Recommendations
- Eliminate wholesale price caps.
- Eliminate the ability of the PUC to disgorge revenue.
- Do not adopt Sunset Commission proposals to increase PUC fines and give the PUC emergency cease and desist authority.
- Define more clearly the concept of market power and market power abuse.
- Eliminate the Renewable Portfolio Standard and support elimination of the federal production tax credit.
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