The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across
Peak Power Price Pickup Pleases Producers, Perturbs Public
Texas power plant owners will soon be able to charge more for the electricity they generate in peak summer hours. State regulators voted Thursday to raise the cap on the price of wholesale energy by 50 percent starting in August. The Texas Tribune reports that the Texas Public Utility Commission’s decision gives a boost to plant owners — many of whom are struggling in a weak energy market — and “could give them an incentive to build more plants to supply the state’s growing population.”
The Bottom Line: Consumer advocates argue that energy companies will likely pass the increase on to customers, and one industrial group estimates that if the higher cap had been in place last year, “the total cost of raising the price cap would have amounted to $4.7 billion,” according to the Tribune.
Google Doc Search: No Results Found
Texas Attorney General Greg Abbott is ramping up the state’s legal battle with Google, accusing the company of concealing evidence that it manipulates search results in an attempt “to stifle competition and drive up online advertising prices,” the Associated Press reports.
Abbott filed a complaint in state court last week, hoping to force Google to turn over more than 14,500 internal documents that he first requested two years ago. The search giant has already released thousands of pages of records as part of legal challenges from Texas and five other states, but