Texas Produces Double The Renewable Power As California At Almost Half The Price -- Blame Regulation
http://www.forbes.com/sites/chuckdevore/2018/05/07/texas-produces-double-the-renewable-power-as-california-at-almost-half-the-price-blame-regulation/#654b89161b86
The electricity markets in the two most-populous states couldn’t be more different. California government heavily regulates electricity while Texas allows free market competition in most of the state.
Yet, Texas produces more than double the amount of wind, solar and other renewable electricity as California while California’s retail electric rates were 89 percent higher than Texas’ in 2017.
California’s electric market labors under detailed mandates imposed by busybody politicians exercising their power to save the world. Since 2002, there have been no fewer than 12 laws or state executive orders specifying renewable energy targets. Several other laws proscribe the power mix, such as sharply curtailing greenhouse gas emissions or prohibiting new coal-fired electricity contracts.
In return for all this regulation and government oversight, the big three publicly regulated utilities, Pacific Gas & Electric, Southern California Edison, and San Diego Gas & Electric (owned by Sempra Energy), are granted a guaranteed rate of return that causes them to build new generating capacity without risk as well as make more profit with higher-priced electricity. With zero incentive to compete, California consumers lose out.
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Mad Poet Strikes Again.
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