AUSTIN, Texas — Many Texans are paying a minimum of 50% more on their spring and summer electric bills than they did last year, according to a report by The Texas Tribune.
The Tribune reported rising natural gas prices are largely to blame for the expensive bills. These prices have increased by over 200% since Russia's invasion of Ukraine. Russia is "a top gas-producing country," the Tribune said, and without it, Texas has been forced to export large amounts of natural gas to European countries trying to get away from depending on Russian gas.
Additionally, hot temperatures in Texas have sparked a greater demand for power, and most power plants in the state require natural gas to operate, the Tribune reported. The large shipments of natural gas to Europe means less supply for Texans seeking relief from the heat.
However, there are a few benefits to the higher prices, such as jobs and state taxes on oil and gas production.
The Tribune reported that electricity providers believe the increased utility bills could last for months or even longer.
Read the full report on The Texas Tribune.
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