Texas voters to decide whether to put billions toward gas power plants

[Eugene]

Source: The Hill

Texas voters to decide whether to put billions toward gas power plants

by Rachel Frazin - 11/05/23 6:00 AM ET

This Election Day, Texas voters will decide whether or not to open up billions of dollars to support natural gas power plants.

Proponents of the measure tout it as a way to improve the state’s electric grid — which infamously failed in a massive winter storm in February 2021, leading to the deaths of 246 people, or over 750 by one investigation.

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Opponents argue that it’s a taxpayer giveaway to the polluting fossil fuel industry, and they raise doubts about whether it will actually improve reliability.

The measure, known as Proposition 7 or “Prop 7” creates the “Texas Energy Fund.”

This fund would provide $7.2 billion in low-interest loans for the construction of new gas-powered plants, completion bonuses for that construction and for repairs to existing gas plants. This would apply to the majority of the grid that is controlled by the power operator known as the Electric Reliability Council of Texas (ERCOT).

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Read more: https://thehill.com/policy/energy-environment/4292920-texas-voters-proposition-7-gas-power-plants/

[GreenWave]

1. So those energy bastardos haven't made enough to cover the cost themselves?

[not fooled]

2. Huh. Which TX energy barons

are behind this? Seems as though that should be included in the story.

[bucolic_frolic]

3. well that oughta be a slam dunk in Texas

Only caveat is whether taxpayers want to spend the money.

[walkingman]

4. Texas philosophy is taxpayers should fund the capital expenses

of for-profit industry. It fits right in with the "business friendly" environment that the GOP controlled leadership has pushed for 30 years. The "trickle-down" mentality is standard procedure in Texas.

[Think. Again.]

5. Ha!

Well, that would certainly be stupid with energy just starting to transition way from fossil fuels.

Those plants will be obsolete before they're even finished being built.

[mkassowitz]

6. The rule with all energy companies

Using other people's money is the first rule of all energy projects. And getting free handouts from taxpayer funds is the preferred method. https://factkeepers.com/meet-the-real-welfare-queens-the-corporations-who-get-the-most-in-subsidies/