, proposed by state Sen. Charles Schwertner, R-Georgetown, would create a new entity — dubbed the Texas Energy Insurance Program – that would build as much as 10 gigawatts of natural gas-fueled power plants, enough to power millions of homes. The plants would sit idle almost every day of the year, only to be used in instances of extreme weather – such as 2021’s devastating Winter Storm Uri — when energy demand exceeds the supply, threatening mass power outages.
We share the concerns of these strange bedfellows and urge lawmakers in the House to vote against this bill.stunning end to Texas’ competitive power market. While the state’s competitive market has had its share of issues with certain participants — R.I.P. Enron —– it can be argued that the freedom of choice has helped keep consumer energy costs relatively low while also fostering innovation.