Texas electric costs hiked by $20 billion last year thanks to government

The price of just about everything in our daily lives has gone up thanks to President Bidens broken economy. Everything from groceries, to gas, and even electricity has become bills people struggle to pay. Thanks as well to Biden's big green push, many government subsidies that encourage green, renewable power generation are hurting Texans.

Those policies encouraging these massive subsidies have resulted in the cost of electricity in Texas to rise by $19.9 billion in 2023. A study from the Energy Alliance found that the total government-imposed cost of electricity in the ERCOT umbrella was $84.3 billion. That is just staggering amounts of money.

Bill Peacock of the Energy Alliance says Texas has been trying to combat the failures of the wind and solar generation, and it is hurting us all.

"Texas policy makers decided the way to address that failure of renewable energy...was to subsidize all forms of energy," he says.

Of the $84 billion operated by ERCOT, Texas state and local governments are responsible for almost 86 percent.

Texas for years too has prided itself on not being like California or New York. We are different and better because we are Texas. But this effort in the last few years has taken us into their territory.

"They are following states like that...Texas electric prices are about 14 cents per kilowatt hour...in New York, it is in the 20s, and California is in the 30s...so we are not there yet, but we are heading in that direction," he says.

Renewable energy though has become popular, and politicians have jumped on the train, as long as the money keeps coming, and they get to keep their seat.

So, in short, the subsidies are the problem. The Solution? Get rid of the subsidies. However, that is a lot easier said than done.

"This has become very profitable to many of the businesses, and they are putting a lot of pressure on Texas politicians not to get rid of them," he says.

In a span from 2014 to 2018, unreliable energy subsidies represented $9.4 billion of the $14.7 billion in total ERCOT costs. For that same span from 2024 to 2028, the cost is projected to be around $29.2 billion, with ERCOT total costs hanging near $70 billion.

So, until the green energy nonsense takes a back seat, energy costs for the average Texan will continue creeping toward scarier heights.