After statewide power outages in February that lasted weeks in some areas, leaving millions of Texans in the cold and dark without water, the state Legislature was tasked with reforming the state’s electric grid.
While lawmakers took significant steps toward preventing another blackout, hardly any of the proposals passed during this legislative session will aid consumers in recovering from the February storm but they’ll see higher utility bills.
The legislation does require electric plants to prepare better for winter weather, but it does not set any specific standards plants would have to meet. The Texas Public Utility Commission will now have to write more detailed rules.
The legislation does not require all natural gas facilities to winterize. Only gas facilities deemed “critical” by a new infrastructure mapping committee will be forced to install tougher winter protection measures, and that committee’s report is not due until January 1 after the coming winter season is already underway.
That delay and the lack of clear tough standards for all gas suppliers has some energy analysts concerned. Many of the power outages during the 2021 winter storm were caused by gas supply issues when electric plants fueled by natural gas were unable to get enough fuel to continue producing power.
Hearings Scheduled on Amended Stipulation for PNM Resources Merger with AVANGRID
Stipulated agreement combines interests of PNM, AVANGRID and 13 other parties to bring over $270 million in benefits to New Mexico, one remaining approval required for the merger expected to close in 2021
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ALBUQUERQUE, N.M., June 1, 2021 /PRNewswire/ On Friday, the Hearing Examiner for the New Mexico Public Regulation Commission (NMPRC) set the remaining procedural schedule for the amended stipulation in the merger application of Public Service Company of New Mexico (PNM) and its parent company, PNM Resources, Inc. (NYSE: PNM), with AVANGRID (NYSE: AGR). This schedule comes after AVANGRID addressed regulatory issues for its northeastern regional utility subsidiaries on service quality standards, including details on routine reviews management audits that are typical for investor-owned utilities in those jurisdictions. The filing reflected AVA