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Texas Senate Passes Bill to Subsidize Fossil Fuel Plants
Will Texas Subsidize Fossil Fuel Plants? The Texas Senate recently passed a bill to increase investment in dispatchable power plants. Find out how this plan to subsidize fossil fuel plants may increase your electric bills. The Texas Senate passed Senate Bill 388 on March 19. The bill headed to the Texas House and was assigned to the State Affairs committee. This bill is part of a larger effort to support natural gas plants. It will subsidize fossil fuel energy by giving financial help to builders of new natural gas plants. If passed by the lower chamber, the bill will change how Texas power gets made and used. Furthermore, it creates a trading program for “dispatchable generation credits.” As a result, every electric company that generates power in Texas would have to either own natural gas capacity or buy credits from others. A New Push to Subsidize Fossil Fuel Energy Lawmakers say the bill should help make the grid more reliable. But this plan comes with big risks and m...
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