A significant gas rate hike in Austin has led residents, including sound engineer Jake Perlman, to voice concerns over soaring bills. Texas Gas Service cited the need for revenue to fund infrastructure and ensure shareholder returns, estimating an annual $25.8 million increase. While the utility projected a rise of ''under 15%'' in bills, critics argue the increase could be much larger, igniting backlash among residents and prompting negotiations between the utility and city officials. This dissatisfaction reflects broader concerns over rising utility costs during times of financial strain.
Austin's recent gas rate hike stemmed from Texas Gas Service's need for more money for infrastructure and guaranteed returns for investors, exacerbated by inflation.
The utility's expected increase in annual revenue is $25.8 million, but critics accuse it of unfairly burdening customers already facing financial strain.
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