• The price cap on wholesale electricity in Texas will go up by 50% as of Aug. 1.
• The hike comes following a Texas Public Utility Commission vote Thursday, which raises the rate cap from $3,000 per megawatt-hour to $4,500.
• The vote was 2-0 in favor of the hike, with Commissioner Ken Anderson abstaining, saying that he agrees with the cap but believes the change will come too soon for electricity providers to adjust.

From the article:

The Texas Public Utility Commission voted Thursday to raise the wholesale electricity price cap by 50 percent this summer in a move it hopes will spur construction of new power plants. ...