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Here is Why Texas will Turn Blue soon

serfserf Member Posts: 9,225 ✭✭✭✭
edited November 2021 in Politics

It's because The Republicans allowed our Electrical & Gas authority regulator entity to suggest winterizing energy facilities and not making it mandatory. It will cost us billions of dollars on their con game on bonds.

serf

https://arstechnica.com/tech-policy/2021/11/natural-gas-customers-in-texas-get-stuck-with-3-4-billion-cold-snap-surcharge/

The shortfall caused a cascade of effects throughout the state. Many wells run on electricity, but the state lost half its generating capacity. Many natural gas-fired power plants had to shut down because they weren’t weatherized—their equipment was literally frozen. Even those that could operate had a hard time receiving gas because of the wells that were either shut in or frozen. Power producers paid an extra $8 billion to gas producers during the five-day storm.

Gas sellers made record profits in just a few days, together bringing in as much as $11 billion, about 70–100 times more than normal, based on spot prices at the time.

Meanwhile, many Texans suffered through blackouts and bitter cold, and 210 people died, according to the latest estimate from the Texas Department of State Health Services.

The regulator, the Railroad Commission, is allowing utilities to issue bonds to cover the debt. As a result, ratepayers could see an increase in their bills for the next 30 years.

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