Environmental News For The Week Ending 13 March 2019 econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
The Texas Senate on Monday approved a bill that would require the state's primary grid operator, the Electric Reliability Council of Texas Inc., to retroactively cut about $5.1 billion in charges it passed on to providers during February's winter storm that left millions without power for days.
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12 Mar, 2021 Author Camilla Naschert
An RWE onshore wind farm. While wind was not the main culprit in the Texas power grid outages last month, one insurer forecasts rising climate-related physical risks for renewables in North America.
Source: RWE AG
While utilities brace for a hit in the tens or even hundreds of millions of dollars from February s brutal cold spell and subsequent disruption in Texas, one renewable energy insurer with nearly 10 GW of wind assets under coverage in the state is not expecting a surge in claims.
GCube Underwriting Ltd. has received three claims in relation to the Arctic blast so far, although more are expected, CEO Fraser McLachlan said March 4. Because there is such a massive amount of assets in Texas, it takes an awfully long time to go around to inspect all the turbines, McLachlan said in an interview. This is often done using drones or having technicians go up the tower,
In wake of Texas power crisis, US Senate examines threats to grid resilience spglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spglobal.com Daily Mail and Mail on Sunday newspapers.
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The past few days have been trying ones for Texans suffering due
to the loss of electric power in their homes and business.
Already we have received several subrogation assignments arising
from claims involving burst water and sprinkler piping. Other
claims involve damage due to lack of heat to inventories and other
property.
The question presented is whether a subrogated property carrier
has any recourse against those responsible for the brownout, either
or both the electrical utility or the Electric Reliability Council
of Texas, Inc (ERCOT).