Thursday, May 24, 2007

Electric bill waters down ratepayer benefits

By R.A. DYER - Star-Telegram Staff Writer -Thu, May. 24, 2007
AUSTIN -- Although the legislation was unveiled three months ago as a potential antidote to unfair rates, North Texans paying the most for electricity may not get much savings under a bill approved Wednesday by key lawmakers.

House and Senate negotiators also removed or watered down major provisions that TXU lobbyists had said would undermine the pending sale of TXU to private-equity companies.

However, sponsors noted that the far-reaching legislation includes new penalties for companies that abuse their position in the electric market and new rate protections and discounts for low-income Texans.
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