The PUC's vote on Thursday won't be the end of debates for how the power market may be...
Public Utility Commission Chairman Peter Lake speaks during an interview in his office on Thursday, Sept. 2, 2021 in Austin, TX. Lake spoke about the state of the energy situation in Texas and how they are looking for ways to give Texans energy without interruptions or losses. On Thursday, the Public Utility Commission of Texas will take a vote that could significantly affect the electricity bills of tens of millions of Texans, as well as the reliability of the power grid on which they depend.
In short, generators would get a performance credit for being available during certain hours on days when the grid's reserve margins are at their lowest. Retail electricity providers, the companies that sell residential power plans, and cooperatives and municipal utilities would pay for those credits, more than likely passing on those costs to customers.
"Regarding the PCM, it appears that all price risk is borne solely by the end-user, who is assigned their share of costs based on their contribution to demand during periods of low operating reserves," officials with the Office of the Public Utility Counsel wrote. The report also assumed that 11,000 megawatts of thermal generation -- power created using fossil fuels -- will retire by 2026. Half of the state's power generators are 30 years or older, ERCOT CEO Pablo Vegas said at a state House committee meeting in December, but ERCOT's independent market monitor has taken issue with the assumption that so much power could come offline in the next three years.
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