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High Rates Hit Consumers as Goldman Finances Deregulation

Houston consumers were supposed to get lower electricity rates from deregulation. Instead, they pay some of the nation’s highest prices, partly because of bonds Goldman Sachs Group Inc. recently sold for a local utility.

The Wall Street bank marketed $1.7 billion of securities for Houston-based CenterPoint Energy Inc. last month at higher yields than most of the company’s similar long-term debt, according to data compiled by Bloomberg. That raised costs borne by 2.2 million Houston-area consumers by about $47 million.