Houston consumers were supposed to get lower electricity rates from deregulation. Instead, they pay some of the nation’s highest prices, partly because of bonds Goldman Sachs Group Inc. (GS) recently sold for a local utility.
The Wall Street bank marketed $1.7 billion of securities for Houston-based CenterPoint Energy Inc. (CNP) last month at higher yields than most of the company’s similar long-term debt, according to data compiled by Bloomberg. That raised costs borne by 2.2 million Houston-area consumers by about $47 million.
Read the full article at Bloomberg.com.
Is a policy analyst consultant for TCAP, a coalition of political subdivisions in Texas that purchase electricity in the deregulated market for their own governmental use. Because energy costs are typically a significant budget item to our members, TCAP is consistently looking for ways to save our members money, through cost-saving contracts, energy efficiency or demand response programs.