 Energy & Environment |
Energy & Environment |
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Texans could decide to open up billions in loans for gas plants |
Voters in Texas today will decide whether to approve the creation of a state energy fund that would open up low-interest loans to natural gas power plants. |
The proposal, known as "Prop 7," would provide $7.2 billion in low-interest loans for the construction of new gas-powered plants, as well as completion bonuses for that construction and repairs to existing gas plants. It would also put $1.8 billion toward backup power sources and $1 billion in grants for power infrastructure outside of the jurisdiction of power operator ERCOT, which is in charge of most of the state's grid. Proponents say the measures will bolster reliability in the state in the wake of a devastating 2021 winter storm that resulted in power outages and killed hundreds of people. Opponents call it a giveaway to the fossil fuel industry and say it could worsen climate change. They also raise questions about its actual impacts on reliability. Bob Hebner, director of the University of Texas's Center for Electromechanics, said putting more plants on the grid could help reliability in moments of extremely high demand.
"When we have extraordinarily high temperatures and we were running out of supply, or extraordinarily low temperatures and we run out of supply, then more supply will help," Hebner said.
However, he said he doesn't think the proposal is the best way to bolster reliability, describing it as "more of a showpiece than a solution."
"When you put in a plant, you're making a 20-year investment, and technology is changing faster than it's ever changed before," Hebner said. "We may not want to make a 20-year decision to use old technology. We may want to make smaller decisions along the way to get to the best solution over time."
In a follow-up email, Hebner concluded: "We are not likely to get the resilience improvement per dollar invested from simply building these plants than we would from a more strategic approach." Read more in a full report at TheHill.com. |
Happy election day! And welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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For one day only this week, national parks that usually charge an entrance fee will be free to visit. November 11, Veterans Day, marks the last of the five days the National Park Service is waiving admission fees for this year. |
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(AP) — The cancellation of two large offshore wind projects in New Jersey is the latest in a series of setbacks for the nascent U.S. offshore wind industry, jeopardizing the Biden administration's goals of powering 10 million homes from towering ocean-based turbines by 2030 and establishing a carbon-free electric grid five years later. |
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CAPE CANAVERAL, Fla. (AP) — Scientists on Tuesday unveiled the first pictures taken by the European space telescope Euclid, a shimmering and stunning collection of galaxies too numerous to count. The photos were revealed by the European Space Agency, four months after the telescope launched from Cape Canaveral. |
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Branch out with a different read on The Hill: |
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TAMPA, Fla. (WFLA) — Temperatures are starting to drop in Florida, and if you've been in South Florida during the winter months, you may see something else dropping once seasons change. In northern states, trees shedding their leaves typically signifies fall is here and winter is near. However, in Florida, iguanas falling from trees means it's time to bust out the jackets. |
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Upcoming news themes and events we're watching: |
Wednesday: The Senate Environment and Public Works Committee will hold a hearing to examine accessing clean water infrastructure assistance, focusing on small, rural, disadvantaged and underserved communities.
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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Climate data can save lives. Most countries can't access it (Grist)
How Biden's $63.4M in new money for the Colorado River may help the West (Deseret News) EVs are driven less than gas-powered models: study (Axios)
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Two key stories on The Hill right now: |
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Former President Trump's attorney Alina Habba went after New York Attorney General Letitia James on Monday, saying she's "just not that bright." Read more |
| Sen. Rick Scott (R-Fla.) warned Senate GOP leaders Tuesday not to circumvent Sen. Tommy Tuberville’s (R-Ala.) holds on Pentagon appointees, warning it would be a "mistake" for them to support a Democratic resolution to change Senate procedure. Read more |
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You're all caught up. See you tomorrow! |
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