Texas legislature moves to cut $5.1 billion in storm costs


Texas legislators took steps this week to make sure consumers aren’t hit with exorbitant electrical bills from the February winter weather that left dozens dead and millions in the dark for days because of rolling blackouts.

The Texas state Senate on Monday quickly approved a bill cutting more than $5 billion in disputed electricity and service fees piled on power marketers during the freeze.

Reuters reported the approval came after electricity costs in February soared nearly 10 times to about $47 billion and led at least three companies to file bankruptcy.

Click here for the Reuters story.