Energy Companies Want Texas Taxpayers To Cover $6.5 Billion In Winter Storm Debts

[TexasTowelie]

Who will pay for the dramatically increased energy costs associated with February’s winter storm? Energy companies want the state of Texas to borrow $6.5 billion to cover outstanding bills from the storm, with taxpayers footing the bill.

Dave Lieber writes “The Watchdog” for The Dallas Morning News. He told Texas Standard he discovered the planned borrowing by digging through a 292-page filing by ERCOT, to the Public Utility Commission, or PUC.

“This money is not going to fix the infrastructure,” Lieber said. “This money is going to pay companies’ debts.”

The debts were incurred when energy prices spiked during the winter storm. Lieber says energy companies say that without the money, they would be forced to pass along their costs to consumers in the form of higher utility bills.

Read more: https://www.texasstandard.org/stories/energy-companies-want-texas-taxpayers-to-cover-6-5-billion-in-winter-storm-debts/

[wwprogressive]

1. Paying the piper

Texas fossil fuel companies should foot these bills out of their profits, retained earnings and sale of financial assets. They are seeking corporate welfare to bail themselves out of something of their own making, e.g., putting carbon emissions into the atmosphere causing volatile weather patterns. And, lying to the general public for decades about the effects of CO2 emissions. It's time to start paying the piper.

[jimfields33]

2. It will probably work too

I bet they don’t pay a dime.

[catrose]

3. Er, no.

[AllaN01Bear]

4. choke it chump.

[LetMyPeopleVote]

5. No

Taxpayers should not cover these amounts