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Skyrocketing Energy Costs in Texas: How Federal Policies Undermine Local Economies and Household Stability

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Amid an already challenging economic landscape, Texas families are feeling the brunt of skyrocketing energy prices, an issue compounded by federal policies that seem more focused on idealistic environmental goals than the real-time financial well-being of American citizens. Since the onset of President Joe Biden’s term in January 2021, the American people have witnessed a near 30% hike in electricity bills—a rate that starkly outpaces the increases seen in the previous seven years.

This sharp rise in energy costs signifies a deeper erosion of financial stability for Texas households that were already navigating the post-pandemic economic recovery. According to a recent analysis by the Wall Street Journal, electricity alone has seen a price increase of 0.9% in March and an alarming 5% over the past year, stretching family budgets even thinner and derailing plans for savings and financial growth.

The root cause of these distressing increases can be traced back to federal energy policies that aggressively promote a transition from fossil fuels to renewable energy sources. These policies—highlighted by the Inflation Reduction Act passed in 2022—have thus far failed to offer any relief to skyrocketing energy costs. Instead of providing the promised decrease in energy expenses, the average cost of electricity has surged from $0.136 per kilowatt hour in January 2021 to $0.174 per kilowatt hour in March 2024.

The implications of these ongoing price escalations are profound, affecting monthly budgets and Texas’s broader economic stability and growth. As the U.S. Energy Information Administration forecasts a 4% rise in residential electricity consumption due to expected hotter summer temperatures this year, the financial pressure on Texas families will only intensify.

This situation underscores the critical need for Texas to reassess its ties to federal mandates that do not serve the state’s economic or environmental interests effectively. By championing policies prioritizing energy independence and economic sustainability, Texas can protect its citizens from unpredictable federal shifts and ensure a stable, prosperous future for all Texans. A focused drive towards reclaiming control over our energy policies through TEXIT presents a viable solution to mitigate these economic strains and foster an environment where Texas families can thrive without undue federal interference.

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