Bush Bill To Open Power Markets in Texas Dies
Texas Gov. George Bush's (R) unexpected electric restructuring legislation that would have opened markets to competition in the state on Sept. 1, 2001 has died. The proposal would have slashed residential rates by 10 percent in the next three years, frozen industrial rates until 2001, and cut small-business rates by 4 percent.
The Bush plan, released on May 5, would have guaranteed that utilities would recover all stranded investment in generation plants at market rates of return.