Prometheus 6

Since Jan. 1, 12-month fixed-rate electric prices have gone up nearly 40 percent for residential customers, according to an analysis by an online electricity shopping site.

And those prices will probably continue going up this summer and beyond, said Chris Brewster, a consumer representative at the Electric Reliability Council of Texas, which manages the state's power grid.

Brewster blamed increasing fuel costs and said that wholesale market spikes also put pressure on retailers. 

Surge in power prices may portend long, costly summer in Texas
By R.A. DYER
Star-Telegram staff writer

AUSTIN -- In a sign of tough times ahead for ratepayers, electric wholesale prices have spiked to nearly unprecedented levels this week, and regulators now warn that thousands of Texans who have been involuntarily switched to alternative power providers may end up with shockingly high bills.