Electricity emissions can be cut to net-zero while keeping the lights on and prices down. But achieving that quickly means keeping gas around, for now.
By Reuters Staff
1 Min Read
March 12 (Reuters) - The Texas power regulator on Friday voted to remove about $1 billion in service fees levied on grid users but took no action on petitions asking it to cut high power prices during a mid-February cold snap.
The fees involved payment to power generators for services not provided during the mid-February cold snap, according to the state’s market adviser. The Texas Public Utility Commission also ordered the state’s grid operator to extend its deadline for accepting freeze-related payment disputes to 6 months from 10 days. (Reporting by Gary McWilliams)
Many kinds of extreme events can disrupt electricity service, including hurricanes, earthquakes, floods, wildfires, extreme heat, extreme cold and extended droughts. Major disasters can leave thousands of people in the dark. The Texas deep freeze in February knocked out 40% of the state’s electric generating capacity.
During such events, unaffected regions may have power to spare. For example, during the February blackouts in Texas, utilities were generating electricity from hydropower in the Pacific Northwest, natural gas in the Northeast, wind on the northern Plains and solar power in the Southwest.
Today it’s not possible to move electricity seamlessly from one end of the U.S. to the other. But over the past decade, researchers at national laboratories and universities have been working closely with industry engineers to design an interstate electricity system that can. And President Biden’s infrastructure plan would move in this direction by allocating billions of dollar
By Reuters Staff
2 Min Read
JERUSALEM, March 8 (Reuters) - Cyprus, Greece and Israel on Monday signed an initial agreement to build the world’s longest and deepest underwater power cable that will traverse the Mediterranean seabed at a cost of about $900 million and link their electricity grids.
The project, called the Euro-Asia interconnector, will provide a back-up power source in times of emergency, said Israeli Energy Minister Yuval Steinitz, who was in Nicosia to sign a memorandum of understanding with his counterparts.
Cypriot Energy Minister Natasa Pilides said it marked “a decisive step towards ending the island’s energy isolation, and consequently, our dependence on heavy fuels.”
5 Min Read
HOUSTON (Reuters) - The Texas attorney general on Wednesday said state law allows the utilities regulator to cut billions of dollars from storm-inflated electric bills, an endorsement that came hours after the ouster of the regulator who opposed retroactive cuts.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura/File Photo
The drive to reverse $4.1 billion in emergency prices gained momentum after a magazine published inflammatory comments by Public Utility Commission Chair Arthur D’Andrea. In a March 9 call with Bank of America analysts and investors, he said he “tipped the scale” to protect utility profits. He also minimized the financial pain caused by storm pricing to municipal power companies.