Nearly 2,100 households and a handful of businesses could face much higher electricity bills after a fifth retail provider decided to get out of the business in Texas.
The Electric Reliability Council of Texas said Tuesday that is switching customers of Blu Power of Texas to default providers, which typically charge much more.
Blu Power asked ERCOT on Monday to switch its customers. "This is a voluntary mass transition," ERCOT spokeswoman Dottie Roark said. "They have not defaulted on any obligations to ERCOT."
Four other retail providers shut down in recent weeks as short-term wholesale electricity rates have risen sharply, in the wake of higher costs for oil and natural gas.
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