TXOGA Says It Applauds Actions Taken by PUC
by Andreas Exarheas
click here to read the original article at Rigzone.com
*this article was not written by Roseland Oil & Gas
In a statement sent to Rigzone recently, the Texas Oil & Gas Association (TXOGA) said it applauds actions taken by the Public Utility Commission (PUC) to advance Texas Energy Fund Projects.
In a release posted on its X page last week, the Public Utility Commission of Texas (PUCT) announced that it had selected the projects that will advance to the next phase of the application review process for the Texas Energy Fund In-ERCOT Generation Loan program.
The commissioners selected 17 projects representing a total of 9,781 megawatts (MW) of proposed new dispatchable power generation and a total requested loan amount of $5.38 billion, the release stated.
“As one of the largest industrial users of electricity, the Texas oil and natural gas industry depends on a reliable supply of electricity to maintain operations and to produce abundant, affordable energy for our state, nation, and allies abroad,” TXOGA President Todd Staples said in the TXOGA statement.
“We thank the Texas Legislature for their work to establish the Texas Energy Fund, which voters approved last fall. This is a tool to encourage investments in dispatchable generation projects that expand the reliability of the grid and contribute to our state’s success by meeting our growing electricity needs,” he added.
“Upon initial review of the 17 projects representing nearly 10,000 MW in potential new generation, TXOGA applauds the PUC for their consideration of diverse geographic siting locations, load growth regions, and transmission constraints,” he continued.
“New generation projects, as well as the development of the Permian Basin Reliability Plan, are crucial steps toward ensuring that Texas can meet its future energy demands while maintaining grid stability and supporting continued economic growth across the state,” Staples went on to note.
TXOGA highlighted in its statement that it previously issued a comment in support of the passage of the constitutional amendment creating the Texas Energy Fund.
“With an estimated 1,000 people a day moving to the Lone Star State, growing infrastructure is essential to the success of every Texan,” Staples said in that comment.
“Propositions 6, 7, and 8 will together help to support the development of new water supplies to meet the needs of our growing population; strengthen the reliability of our electric grid by ensuring it performs no matter the weather as well as increase the supply of electricity by encouraging additional generation; and close the digital divide by expanding broadband access in rural, underserved, and remote areas,” he added.
“TXOGA is pleased to see infrastructure propositions to expand water, electricity and broadband pass with overwhelming support from voters. By voting to approve these propositions, Texans are ensuring that the Lone Star State continues to be the best place to live, work, play and raise a family,” he went on to note.
TXOGA also pointed out in the statement that it previously issued a comment on the PUC’s adoption of “a proposed order to develop an electricity reliability plan for the Permian Basin”.
“After a successful PUC workshop held in Midland earlier this week, the Commission adopted a proposed order for an electricity reliability plan for the Permian Basin with an updated timeline for ERCOT and stakeholders,” Staples said in a comment posted on TXOGA’s site in December last year.
“We are grateful for the leadership of Commissioner Cobos as well as the support of Chair Jackson and Commissioners McAdams and Glotfelty. TXOGA remains committed to being an active stakeholder in the implementation of this vital plan to ensure the continued success of the Permian Basin in producing the irreplaceable oil and natural gas that make our modern lives possible,” he added in that statement.
In last week’s PUCT release, the organization revealed that, in total, the commission received 72 applications to the In-ERCOT Generation Loan Program seeking more than $24 billion in funding for projects representing over 38,000 MW of proposed new dispatchable generation.
PUCT said in the release that its staff and the Texas Energy Fund administrator assessed each of the applications individually based on criteria outlined in PURA and the PUCT’s rules. Applications were evaluated based on the applicant’s experience and strength of financing as well as the proposed project’s technical and financial attributes, PUCT stated in the release.
“This is an enormous step forward in our on-going work to meet the fast-growing demand for electricity in our state,” PUCT Chairman Thomas Gleeson said in the PUCT release.
“Each application was closely analyzed, and the projects selected to advance will have the greatest impact in meeting the needs of the ERCOT grid and ensure long-term electric reliability in Texas,” he added.
Texans voted to create the Texas Energy Fund through a constitutional election on November 7, 2023, the PUCT release noted, adding that the In-ERCOT Generation Loan Program is one of four Texas Energy Fund programs established under the Powering Texas Forward Act.
According to the release, PUCT’s mission is to serve Texans by regulating the state’s electric, telecommunication, and water and sewer utilities, implementing respective legislation, and offering customer assistance in resolving consumer complaints.
TXOGA describes itself as a statewide trade association representing every facet of the Texas oil and gas industry including small independents and major producers. Collectively, the membership of TXOGA produces approximately 90 percent of Texas’ crude oil and natural gas and operates the vast majority of the state’s refineries and pipelines, TXOGA’s site states.
by Andreas Exarheas
click here to read the original article at Rigzone.com
*this article was not written by Roseland Oil & Gas