Is the Texas Energy Fund Failing?
Who Will Take Texas Energy Fund Loans? A third of generator companies that originally signed onto the Texas Energy Fund have pulled out. Learn how this could affect your future electric rates and bills. Texas created the Texas Energy Fund to strengthen the ERCOT electric grid. Lawmakers promised it would support new power plants and prevent blackouts. But now, many electric companies are dropping out. More than a third of the projects have been canceled, totaling 3,393 megawatts. That’s enough energy to power over 780,000 homes. If these losses continue, Texans could face higher electric provider prices and a weaker grid. So, is the Texas Energy Fund failing? Why Are Companies Leaving? Generator companies applied for state funding to build new power plants. In return, they agreed to strict rules. These rules include tight deadlines and long-term commitments. Some companies now say the deals don’t make financial sense . Others worry about competition with renewable energy, ...