WACO, Texas — With wholesale prices coming in less than expected, indicating inflation is likely cooling, many Texans are still dealing with the impact of high utility costs.
Some energy experts say Texans may have to deal with higher utility costs in the next couple of years because the state’s power grid did not get the overhaul it needed following the disastrous 2021 winter storm.
Ed Hirs with the University of Houston says Texans are feeling the impact of a failed grid that happened during the winter vortex in 2021.
“We're going to be paying a huge amount of money, billions of dollars for the mistakes made by the public utility commission and ERCOT during that freeze,” Ed Hirs said.
Other factors like the increase of demand for the export of natural gas to European countries and the volatility in the energy market have made an impact as well.
Factors that have forced Texans to spend up to 28 percent of their income on electric bills.
“As we look forward we're looking at more expensive energy markets, not just this year but the year following and the year following that,” Ed hirs said
Ed hirs says conservation is the best option to minimize the impact felt by high utility costs.
