Austin Engery Plans Expansion

A recent post in Texas Gov Interpreted by Josh addressed Austin Energy's plan to expand into renewable resources such as wind and solar. I definitely agree with the proposition that the city residents should have more say in how the city runs its power company. Austin energy has a monopoly on electricity in Austin and can charge what whatever they see fit. Without proper competition, there is nothing to keep them in line and look out for the consumers. It is a good idea to make a move toward renewable energy for the future. However, if this is a priority for the city or state government, the government should make some money available to Austin Energy for its experiment in this manner. Raising energy costs by 50% is very impactful to everyday citizens and would be harmful to the economy.
The way I see it is there are two options. First, the city should put it out to a vote. The vote would be on whether the city should appropriate funds to expand Austin Energy. The second option would be selling bonds to pay for the new expansion. If the Austin Energy can cut costs in the long run by using wind and solar, they should be able to pay off bonds in the long term.
If the city government is not willing to pay and the citizens are not willing to fund via bonds, then the plan should not go forward.