Brent Bennett, PhD, is the policy director for Life:Powered, an initiative of the Texas Public Policy Foundation that reframes the national discussion on energy and the environment.
TPPF is opposing this bill both on behalf of market principles and on behalf of the vast majority of the consumers in the ERCOT market who will not benefit from this bill but will be harmed both directly and indirectly by its consequences. For example, TPPF—as a customer of Austin Energy, which benefited from its high-performing generation assets during the storm—will see its electric rates go up because of this bill. As a customer of Austin Energy myself, this bill will cause my rates to go up. We should not punish customers of companies that performed well during the crisis simply to keep other market participants from going bankrupt.
Testimony in Opposition Before the Texas Senate Business & Commerce Committee