Posted on 02/16/2021 12:23:36 PM PST by george76
A Public Utility Commission order stated that ERCOT should correct any past prices to reflect the current shortage of energy...
TEXAS, USA — With nearly 4 million Texans in need of power amid the winter storm that struck the state, demand for energy is exceptionally high. The demand has exceeded the supply that the state has to offer.
As a result, the Public Utility Commission of Texas held an emergency meeting on Monday where officials introduced an order that would adjust energy prices. The order said in part, "Energy prices should reflect scarcity of the supply. If customer load is being shed, scarcity is at its maximum, and the market price for the energy needed to serve that load should also be at its highest."
The order also stated that The Electric Reliability Council of Texas (ERCOT), the organization that monitors Texas' power grid, should correct any past prices to reflect the current shortage of energy. However, there are caps in place in the order to make sure consumers are protected from skyrocketing prices.
The order also stated that energy companies across the state need to continue to shed power during the extreme weather conditions.
KVUE has reached out to ERCOT to learn more about how this will affect Austin area consumers.
But, but, but...thought wind and sunshine were “abundant” and “free”! Isn’t that how they sell it?
I’m guessing that Generac’s stock is going up now.
if you have an all electric house as many do, the boiling water part becomes a problem.
Trouble is, if the natural gas pressure falls because of issues with the supply, then there is less generator output.
But then, if it’s just for emergency use, to power the bare necessities, then there’s less draw.
Well don’t do that.
Thank you for that correction.
Flew in a private jet to Cabo with the Mayor of Austin ? /s
Well, I cannot imagine keeping house without a coleman camp stove in storage. At least a little hiking stove. So really I’m kinda with you on keeping house without the ability to boil water in the dark.
That’s a pretty basic human activity one should be capable of.
Heck, two beer cans and a pair of scissors and some denatured alcohol and you have the ability to boil water.
https://zenstoves.net/Stoves.htm
In Texas they almost always own the property rights. If they want to sell the coal, they can. Same with oil and gas. People who were there before the late 90s mostly all own their mineral rights.
In fact, a lot of close to the edge people made a lot of money on that fact when Texas fracking became big. Anyone owning land within the footprint of a well was compensated very handsomely.
More than a fre people who owned a 40 to 100 acre cotton or beanfield on land nobody thought had minerals woke up rich when someone asked to drill there.
I actually saw billboards on some land that said “drill here” with a downward pointing arrow.
Thank Biden for cancelling the pipeline from Canada, and all the Californian’s moving into Texas and bringing their Green-Weenie deal... relying on solar and wind with no backup plan is idiotic. The windmills froze, so they are not producing jack, and considering they’re not really made to sit still and not turn, I’m wondering how many are majorly damaged and will be offline indefinitely.
Will they be offering REBATES to those who LOST power (and WATER, due to loss of power)???
And, damage repair reimbursement/rebates?
What jerks, to think they can get away with this....by ‘emergency meeting’ in the middle of their flub up!!
Peak time pricing, which his why they developed “smart meters”. To get around it do your laundry and home baking in the middle of the night.
I’m guessing that Generac’s stock is going up now.
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February has been good to GNRC.
https://www.investing.com/equities/generac-holdings
Our plants in TX are done. No idea of when they can reopen. Cooling tower is frozen because no load. Since it is Texas, they don’t have a way to drain the lines (Some design engineer needs to go meet my old mentor). A previous company I worked with can’t shut down and needs a lot of Nat gas. I have no idea what is happening there, but it isn’t good.
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Some power plants now own generators connected to a large block of ice(cooling tower) with a lot of broken piping. Mixture of either no foresight and/or ignoring worst cases and/or saving money during build. Kludge with an achilles heel are the words I think you’re looking for.
Gas herein Texas (or at least my little slice 30 miles south of Houston) has almost doubled in the past month. I wonder what happened to impact those prices...
it went $25 to $9000 megawatts/hour
retroactively raising prices will screw people
bill the costs to the wind farmers who didnt deliver their share
Are you talking about LNG.
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