Electricity Rates Rising by 50%

Staff Report

NewsWest 9

TEXAS - Get ready to shell out more money to stay cool. Come August first, your electricity rates will be going up.

The Texas Public Utility Commission approved raising the wholesale cap today by 50 percent, and that's not all, commissioners are considering tripling the wholesale cap next summer.

Officials hope the extra money made by power companies will be used to build more power plants in Texas to  meet growing demand  and avoid rolling blackouts during the hot summer days.

Experts say there is no guarantee electricity companies will use the cash for constructing new plants. For you, it's means a bigger electric bill