Naureen S Malik and Mitchell Ferman of Bloomberg report on Texas’ plan to shore up the power grid.
- The Texas Senate has passed S.B.3, which authorizes a buildout of a fleet of new natural gas plants.
- These plants will sit idle and only be used in the case of emergency, but will cost $18 billion to build.
- In addition to being extremely expensive for taxpayers, this plan will largely fail to address grid reliability issues in Texas and distort the state’s competitive energy market structure.
- Texas lawmakers should reject proposals like this which hurt taxpayers, consumer choice, and energy innovation.
Read the full article here.