Tomlinson: Plan to fix Texas' power grid benefits fossil fuels - the industry that caused the freeze
The best example of cronyism is the proposed market for stored energy. Most grid emergencies occur when demand threatens to exceed supply for only a few hours, usually during the heat of the summer or on the coldest nights. California escaped blackouts last summer becauseThe PUC’s proposal would create a financial reward for energy storage, but only for facilities that can provide 48 hours of power.
To ensure that generators meet future demand, Lake wants to adopt a Performance Credits Mechanism. This new market would give generators extra cash for providing power during the highest-demand periods. A supply and demand curve would determine how much generators will earn. Electricity retailers would then pay for the credits by charging their customers more, hence the higher bills.
“We want to pay for performance … if you want to be paid for being reliable, you’ve got to commit in advance, and you’ve got to be there when you say you’re going to be there,” Lake said. “We won’t rely on that old crisis-based business model anymore.” Lake’s new mechanism, though, relies on private companies managing the risk and leaves ERCOT powerless to guarantee electricity is available in emergencies. The proposal also excludes renewable energy resources that could supply reliable electricity for less money.
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