Texas free-market myth exposed in blockbuster lawsuit that could reduce your electric bill

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Texans may have the opportunity to see a reduction in their monthly electric bills through a landmark case currently being heard by the Texas Supreme Court. The case involves a group of electricity companies asking the Public Utility Commission (PUC) to "unwind" or "reprice" the $6.3 billion in bonds that were used to bail out electricity and gas companies following the 2021 ice storm. If approved, this could result in the bonds being paid off sooner and potentially stop the practice of charging storm-related fees on customers' bills. The court's ruling is expected by June 30.

However, there is also a risk of economic chaos if the Texas Supreme Court votes to untangle the bonds. Companies that received bailout money may be forced to return it, and some may even face bankruptcy if the funds have been spent. Austin-based energy expert Doug Lewin predicts that the court may try to find a middle ground by ruling that the PUC overstepped its authority but awarding symbolic judgments to the electric companies. Ultimately, the outcome of the case is uncertain, and there is skepticism that the corruption seen during the ice storm will be fully addressed.