Bloomberg reported three very large, very upset Texas utilities wrote to the legislature that new laws proposed there would load unfair costs onto wind and solar farms and “chill investment” (who knows if Bloomberg intended the pun). NextEra Energy Inc., Duke Energy Corp. and Southern Company sent a letter April 14 to Gov. Greg Abbott and members of the state legislature, saying they have “serious concerns” about pending bills that would make wind and solar farms pay for services to ensure the flow of power on the grid remains smooth and steady. In other words, they would have to pay for the backup power that “smooths out” their intermittent performance.
Bloomberg says “conservative lawmakers blamed frozen wind turbines for the widespread disruptions, even though gas plants made up the bulk of the power plants that failed during the blackouts.” The utilities cry, “These bills would unfairly and unjustifiably shift significant costs onto wind and solar facilities in the State of Texas, penalizing assets and discouraging future investment.” They reportedly have $15 billion in Texas wind power operations.
And they got back-up from the Partnership for Renewable Energy Finance, which includes Amazon.com Inc. and Goldman Sachs Group Inc. (here is one rivulet of the global $30-40 trillion green finance flow). The Goldman/Amazon letter said the new laws “would erode confidence that Texas will continue to provide the financial stability needed for future energy investment.” Facing resistance!
