HOUSTON — For years, Texas’ largest city has gotten a pretty good deal on its electricity rates.
That’s about to change.
Houston officials secured a five-year contract for power just before a 2021 winter storm knocked out power to millions of people and led to a reckoning for the state’s electric industry. When the city went to secure a new contract this year, leaders found out the annual bill would rise by 40 percent, said Chris Hollins, Houston’s controller.
Advertisement
“We absorbed a massive rate increase that other consumers had absorbed over the five-year period — but we got it all at once,” Hollins said in an interview.
