Texas Makes Citizens Pay For Power Grid Failures

Capitalism at its finest. John Iadarola and Francesca Fiorentini break it down on The Damage Report.

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Read more here: https://www.cnbc.com/2021/02/21/texas-storm-houston-mayor-says-state-of-texas-should-pay-for-high-energy-bills.html

"Houston Mayor Sylvester Turner on Sunday called on the state of Texas to pay for the enormous electric bills that scores of Texans reported after severe winter weather knocked out power and rose energy prices.

Frigid conditions last week caused major grid failures and skyrocketing demand that left millions of people without heat and electricity. Now, as power resumes for most of Texas, some households face utility bills as high as $10,000.

“For people getting these exorbitant electricity bills and having to pay to repair their homes, they should not have to bear the responsibility,” Turner said during an interview on CBS’ “Face the Nation.” “Those exorbitant costs should be borne by the state of Texas and not the individual customers who did not cause this catastrophe this week.””

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