ICYMI: Powering Texans CEO Testifies on Grid Reforms, Need for Stability to Encourage Investment in New Generation Capacity
Austin, Texas — In case you missed it, last week, Powering Texans CEO Walt Baum delivered testimony on behalf of Texas’ leading power generators to the Texas House State Affairs Committee. During his testimony, Baum spoke about recent reforms passed by the 88th legislature, including HB 1500 and SB 2627, emphasizing the need to send consistent signals to the market in order to drive consistent investment in Texas:
“It is paramount that we provide consistency in the marketplace to attract the capital to help bring new generation online. As we all know, any signals to investors that the state is wavering on its commitment to market reforms can depress investor confidence, decrease future prices, and further disincentivize investment in new generation. In fact, just last week, we saw forward markets drop after the PUC made changes to one ancillary service – ECRS – while we await implementation of the reliability standard and other tools the Legislature passed into law.”
Baum also disccused the positive impact reforms passed by the 88th legislature are already having – including planned investments by Powering Texans’ member companies:
“I am happy to report that the market reforms that the Legislature and this Committee have passed to send investment signals for new, dispatchable generation are starting to yield success, and our members are leading the way. Earlier this week, the PUC announced it had received applications to finance approximately 38,000 megawatts of proposed dispatchable power generation projects… For our part, Powering Texans member companies have collectively filed their full applications to bring nearly 5,000 megawatts of new generation online.”
To watch his full testimony, click here or on the image below:
ABOUT POWERING TEXANS
Powering Texans advocates for free market policies and principles within the Texas energy landscape, and promotes the general welfare of all Texans. By keeping the energy market free from excessive government control, we seek to promote investment, encourage competition, and deliver a stronger grid for Texans, their businesses, and their families. To learn more, visit https://poweringtexans.com/
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