News Formal

Doubts continue about Texas power grid's market redesign

  • 📰 fox7austin
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Getting companies to build new power plants in Texas hinges on redesigning how power companies buy and sell electricity. The proposal being reviewed by the PUC is called Performance Credit Mechanism.

On Monday, the House State Affairs committee came during an update on a proposed market redesign for the power grid by Public Utility Commission Chairman Peter Lake.Shortly after making that promise, Lake was pressed by Corpus Christi republican Todd Hunter. He wanted to know about an important piece of the redesign.Lake answered simply by saying, "Yes sir.

"This is not just some payment for sitting on the sideline or some extra revenue stream that you happen to get, assigned as some kind of bureaucratic exercise, this is a market driven performance based incentive to bring more reliable generation to ERCOT," said Lake. The PUC plan, if approved by state lawmakers is not expected to start until 2026. Hirs warned that’s a long time, especially for companies that have old coal and gas power plants.

It’s estimated the PUC plan will cost consumers $460 million a year. The message for consumers, according to Hirs, does not have a lot of options.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 594. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Texas lawmakers ask state agency to delay power market redesign until after 2023 legislative sessionIn a Monday committee hearing, lawmakers questioned whether a Public Utility Commission proposal to redesign Texas’ electricity market would lead to the building of more natural-gas-fired power plants. Regulators say it would. Fix the damn power grid! mn_haben To do what - find more ways to freeze us or bilk us for more money? No faith. None. Texans wallets and lives are at the mercy of people who do not care about their well being more than profits of energy company's ... their largest donors. PUCSUX TexasGOP = embodiment of Cowardice
Source: TexasTribune - 🏆 441. / 53 Read more »

Texas lawmakers ask state agency to delay power market redesign until after 2023 legislative sessionIn a Monday committee hearing, lawmakers questioned whether a Public Utility Commission proposal to redesign Texas’ electricity market would lead to the building of more natural-gas-fired power plants. Regulators say it would.
Source: ksatnews - 🏆 442. / 53 Read more »