Austin -- Texas Competitive Power Advocates (TCPA), whose membership comprises over 70% of the competitive electric power generation in ERCOT, today announced the hiring of veteran government affairs professional Lindsey Hughes as its new Executive Director. Ms. Hughes will assume her new leadership role on July 30thRead More
Hoping to encourage construction of new power plants by increasing revenue for generators, the Public Utility Commission of Texas on Thursday voted to raise the wholesale price cap for electricity prices.
The action — which takes effect Aug. 1 — raised the cap to $4,500 per megawatt hour, a 50 percent increase, but its proponents, commission Chairman Donna Nelson and Commissioner Rolando Pablos, tried to answer criticism the action will raise customers' bills dramatically.
Pablos criticized "alarmist comments," and Nelson said opponents had used inaccurate rhetoric to spread panic.
"It does not raise rates by 50 percent," Nelson said. "If they don't say it, they imply it. I don't appreciate it."
Amid rising natural gas prices and higher demand, May on-peak power prices increased versus the prior month in every region with the exception of ERCOT, which highlights a risk investors face in the energy-only market which faces issues with resource adequacy in coming years.Read More