Texas energy agency gets $39B in loan proposals for $5B voter-approved fund as officials warn of 50% jump in peak power demand by 2030.
Last week, the Public Utility Commission of Texas, the state's agency regulating the energy industry, revealed that it had received 125 notices of intent to apply for grants under the Texas Energy Fund , the voter-approved initiative. Under that program, organizations can receive grants or loans for energy investments, focusing on dispatchable energy , like oil and natural gas. investments, to which the legislature allocated five billion dollars.
Republicans behind the Texas Energy Fund have claimed the unexpected surge in industry response as a victory. Sen. Charles Schwertner, R-Georgetown, who authored the bill, wrote on social media, "I am thrilled by the strong response to the Texas Energy Fund and am encouraged by the momentum created by Texas’ strong competitive market to deliver affordable, reliable power for all Texans."
"The change in load from last year when we looked at the long-term picture, which was 2029, to this year when we looked at it in 2030, we’ve seen almost a 50% increase in the total ERCOT peak demand," Pablo Vegas, the CEO of ERCOT said.
ERCOT PUCT Dispatchable Energy Energy Investment Senate Bill 2627 Texas Energy Demand
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