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Tribune News Service
Tribune News Service
Business
Mitchell Schnurman

‘We’re in trouble’: Electric rates in Texas have surged over 70% as summer kicks in

There’s no escaping rising oil prices. They’ve driven up the cost of gasoline, and the higher expense registers every time people fill up the tank.

The price of natural gas has increased even more than crude oil, but many consumers may not have noticed. They will soon enough — in higher electric bills.

How much higher? Over 70% higher than a year ago for residential customers in Texas’ competitive market, according to the latest rate plans offered on the state’s Power to Choose website.

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