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Texas Girds for Blackouts as Heat Wave Rolls On
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Heat bakes West, forcing Texas to gird for blackouts
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HOUSTON, Texas Houston s Southern Smoke Foundation has kicked off a new round of fundraising in response to the devastation of the winter storm. These efforts include intriguing new chef dinners, a collaboration with global burger juggernaut Shake Shack, and a massive donation from a concerned Houstonian.
Over the weekend, the local nonprofit announced the creation of its Texas winter storm relief fund that will benefit restaurant workers statewide. Hospitality workers in need of emergency cash assistance - for example, to repair a home damaged by burst pipes - may apply via the organization s website. Since the start of the pandemic, Southern Smoke has issued over $5 million in grants nationwide.
Chris Shepherd, Shake Shack, and generous Houstonian team up to help local restaurant workers
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Publishing date: Feb 26, 2021 • February 27, 2021 • 3 minute read •
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(Bloomberg) Texas’s grid operator needs to come up with $1.3 billion to pay power plants for energy they supplied during last week’s historic blackouts, raising the prospect it may require a state bailout.
The Electric Reliability Council of Texas, which manages most of the state’s grid, said it’s still waiting on more than $2 billion in payments from retail power providers and others after a deep winter freeze caused energy prices to skyrocket. The grid operator, known as Ercot, managed to cover part of that debt by transferring $800 million in revenues from another market but remains $1.3 billion short, according to a notice.