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Texas Freeze Strands Municipalities With Sky-High Vitality Tabs

Texas Freeze Strands Municipalities With Sky-High Vitality Tabs

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Creator of the article: Bloomberg News Danielle Moran and Nic Querolo (Bloomberg) — The crippling iciness freeze that despatched gas and strength prices skyrocketing across Texas in February is providing a warning to cities in regards to the hazards of global warming: The worth of some outrageous climate events can stick spherical for years. The municipal-bond market in total shrugs off pure mess ups attributable to they are in total offset by an influx of federal relieve. Nevertheless the electrical energy meltdown within the Lone Star roar has left cities and native utilities on the hook for big strength funds. Bay Metropolis, a puny neighborhood of lower than 20,000 of us, says its tab for that one week dwarfs what it spends in a entire year. Denton’s utility spent $200 mil...