Jinjoo Lee of The Wall Street Journal writes about Texas’ potential grid market restructuring.
- In the wake of Winter Storm Uri in 2021, Berkshire Hathaway proposed a plan to build more natural gas generation stations to supply back up power to the grid. Now a plan similar to this one may become law through Senate Bill 6.
- If enacted, Senate Bill 6 will cost taxpayers billions of dollars, which will be paid through higher energy prices.
- Importantly, the construction of these plants will hurt Texas’ competitive electricity market structure and discourage investments in renewable energy sources.
- Lawmakers should consider more cost-efficient ways to improve grid reliability including investing in energy efficiency methods and retaining an “all of the above” energy strategy.
Read the full article here.