Texas Senator Fraser of Horseshoe Bay Says TXU Racks Up Record Profits, Abuses Its CustomersSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Texas Senator Fraser of Horseshoe Bay Says TXU Racks Up Record Profits, Abuses Its Customers
 


9 December 2006 at 8:47:16 AM
salon

Senator Fraser's counties - Bell, Blanco, Brown, Burnet, Callahan, Coleman, Comanche, Eastland, Erath, Gillespie, Hamilton, Kerr, Kimble, Lampasas, Llano, Mason, McCulloch, Menard, Mills, San Saba and Taylor

He wants to make corrections to deregulation during this next Texas Legislature session.

Fraser said the company has been linked to anti-competitive practices in a previous Public Utility Commission report. A bankrupt competitor has also made similar allegations, and various other public-utility reports have indicated that the company’s sizable wholesale market share in North Texas gives it undue influence on prices.

I'm sure he must be referring to the Galveston Daily News article a month or two ago that talked about the PUC report. I also noticed yesterday how TXU tried to hide what their record profits are.

Phil King of Weatherford said

We’re not going to go back and re-regulate,” said King, the chairman of the House Regulated Industries Committee. “The toothpaste is already out of the tube with deregulation. But we’ve got to make some substantial changes.”

I don't know why that is. If legislators can make a law, legislators can change or cancel a law. The toothpaste analogy is silly.

How much does TXU spend on lobbying, etc?

TXU spent as much as $3.2 millionon 52 lobby contracts in 2005, the last year lawmakers met in Austin during regular session, according to Texans for Public Justice, a political watchdog group. The organization said the company’s lobby spending was second only to AT&T.

I noted yesterday that the largest contributor to Chet Edward's campaign in this last cycle was TXU.

Texans for Public Justice reports that several other players in the electric industry also typically spend millions of dollars on lobbyists.

They include the Association of Electric Companies of Texas, an industry umbrella group, which spent up to $1.6 million in 2005; Houston’s CenterPoint Energy, which spent up to $1.5 million in 2005; Entergy-Gulf States, which spent up to $1.1 million that year; and American Electric Power, which spent up to $735,000.


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