When Texas lawmakers agreed to open the state's power markets to competition back in 1999, one promise was on the tip of many tongues — lower prices.
"Competition in the electric industry will benefit Texans by reducing monthly rates and offering consumers more choices about the power they use," then-Gov.
George W. Bush said at the time.
Then-state Sen. David Sibley, who was a key author of the bill, put the promise more bluntly:
''If all consumers don't benefit from this, we will have wasted our time and failed our constituency," he said.
Eight years later, many consumers are calling deregulation just that — a failed waste of time.
From 2000 to June of this year, the average electric rate in Texas rose 56 percent, more than in all but three states, according to the most recent nationwide federal government figures.
And once again, I'll apologize for my absolute lack of analysis, but really, what more needs be said?