Forbes Piece: Texas, New York Take Divergent Paths On Natural Gas Generation

[Note: This Story Was Also Published At Forbes.com]

Texas House Moves To Incentivize Natural Gas Generation

Late Monday night, the Texas House of Representatives overwhelmingly approved a slate of bills intended to incentivize the building of additional natural gas power generation for the state’s electricity grid. The bipartisan votes came just before the deadline for the House to approve bills that originated in the state Senate.

On a vote of 119-21, the House approved an amended version of SB 7, a bill that will provide for the creation of a fund to subsidize low-interest loans as an incentive for generators to invest in the building of new power plants fired with the state’s abundant supply of natural gas. Shortly after that vote, house members overwhelmingly approved an amended version of SB 2627, a bill that allows for a completion bonus to be paid from state funds for gas plants that are completed and integrated into the ERCOT-managed state grid by 2029. Members then approved a third, companion vehicle titled SJR 93, which serves as the enabling legislation which authorizes a November ballot measure that voters must approve to create the Texas Energy Fund that will take in and manage the incentives.