In Texas, deregulation is very profitable for energy companies

From KHOU in Houston:

It's now been a decade since Texas lawmakers deregulated the electricity industry, and we've been tracking it ever since, hearing your complaints about sky-high bills and confusing contracts. Where do things stand now?

Average monthly bills for summertime usage have made a steady climb and are now at about $220 in Houston. Compare that to the national average for the same usage: about $160. That means electricity in Houston is 38 percent more expensive. Consumer advocates call the difference startling. [...]

The consumer group Public Citizen found that, nationwide, power companies have made $4 billion more in profits by being unregulated. "Texas companies are literally almost able to charge whatever price they want," [consumer advocate Tyson] Slocum said.

It's the magic of the free market.