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Relating to the regulation of certain retail electric products.
No significant fiscal implication to the State is anticipated.
SB 2194 would ban the use of variable rate electric products for residential and small commercial customers. For all other customers, the electric provider would have to obtain a written acknowledgment that the customer accepts the potential price risks associated with a wholesale indexed product.
Texas Action opposes SB 2194 because it would restrict the free market, violate individual liberty, and deny the personal responsibility of consumers. This bill would restrict a consumer's right to choose what type of electricity plan they want and a seller's right to decide what type of plan they would like to sell. It is not the state's job to protect consumers from potentially bad financial decisions. The state's role is only to make sure consumers are informed about the risks and free to make their choice without coercion.
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