Right now the Lone Star State is under assault from multi-billion dollar electricity generators and Wall Street firms pushing the state’s Public Utility Commission to impose what amounts to a $4 billion per year electricity tax on Texas consumers.
The Texas Public Policy Foundation has studied the issue extensively, and their findings are disturbing.
Under the guise of a misguided regulatory scheme called “capacity markets,” that $4 billion hit to taxpayers is nothing more than corporate welfare designed to bailout companies that aren’t seeing the profits they expected.
As Daniel Greer at AgendaWise.com put it: “Capacity markets are a scheme to keep obsolete electricity infrastructure profitable through taxpayer subsidies.”
Oh, good: Texas’ own baby-TARP.