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Power Outages Main Cause of Oil, Gas Shut-Ins: Texas Update

Power Outages Main Cause of Oil, Gas Shut-Ins
Bloomberg
2/26/2021
Naureen S. Malik, Joe Carroll, David Wethe and Mark Chediak
(Bloomberg) Texas lawmakers’ attempt to understand why the state’s power system failed last week yielded plenty of blame but few clear answers on how to prevent a similar crisis in the future.
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In two marathon hearings, lawmakers grilled the state’s biggest power providers, its grid operator and regulators about the blackouts that left more than four million homes and businesses without heat, light and water during a deep winter freeze.
Executives from Calpine Corp., Vistra Corp. and NRG Energy Inc. blamed natural gas-supply shortages, grid disturbances and a lack of communication from the grid operator known as Ercot. Ercot, meanwhile, said it simply followed the rules and direction set by the Public Utility Commission which, in turn, said it lacked authority to tell Ercot what to do. ....

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Power Retailers Want to Roll Back $9,000 Price Cap: Texas Update

Ercot Still Short $1.3 Billion in Energy Payments: Texas Update
Bloomberg
2/26/2021
Mark Chediak, David Wethe, Joe Carroll and Naureen S. Malik
(Bloomberg) A second day of marathon hearings on Texas’s unprecedented energy crisis raised concerns about the liquidity of the state’s power market, and who will ultimately pay for the disaster as some companies face bankruptcy.
Several utilities told Texas lawmakers Friday that they were still awaiting payment from the grid operator, known as Ercot, for power they provided during the grid emergency, with at least one worrying whether they would be paid at all. As the hearings continued into the evening, Ercot issued a notice saying they remain $1.3 billion short of what they need to pay generators, due to nonpayment from other market participants. ....

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Bankruptcies Loom From 'Enormous' Obligations: Texas Update

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(Bloomberg) Texas lawmakers are grilling power executives, regulators and others for a second day about why the state’s energy system failed last week. So far the hearings have led to plenty of finger-pointing but few clear answers about how to prevent a similar crisis in the future.
Executives from Calpine Corp., Vistra Corp. and NRG Energy Inc. blamed natural gas-supply shortages, grid disturbances and a lack of communication from the grid operator known as Ercot. Ercot, meanwhile, said it simply followed the rules and direction set by the state’s Public Utility Commission which, in turn, said it lacked authority to tell Ercot what to do. ....

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Utility Says Ercot Hasn't Paid It in Three Days: Texas Update

Publishing date: Feb 26, 2021 • February 26, 2021 • 4 minute read •
Article content
(Bloomberg) Texas lawmakers are grilling power executives, regulators and others for a second day about why the state’s energy system failed last week. So far the hearings have led to plenty of finger-pointing but few clear answers about how to prevent a similar crisis in the future.
Executives from Calpine Corp., Vistra Corp. and NRG Energy Inc. blamed natural gas-supply shortages, grid disturbances and a lack of communication from the grid operator known as Ercot. Ercot, meanwhile, said it simply followed the rules and direction set by the state’s Public Utility Commission which, in turn, said it lacked authority to tell Ercot what to do. ....

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Utility Burned Mesquite to Prevent Freezing: Texas Update

Ercot Still Short $1.3 Billion in Energy Payments: Texas Update
Bloomberg
2/26/2021
Mark Chediak, David Wethe, Joe Carroll and Naureen S. Malik
(Bloomberg) A second day of marathon hearings on Texas’s unprecedented energy crisis raised concerns about the liquidity of the state’s power market, and who will ultimately pay for the disaster as some companies face bankruptcy.
Several utilities told Texas lawmakers Friday that they were still awaiting payment from the grid operator, known as Ercot, for power they provided during the grid emergency, with at least one worrying whether they would be paid at all. As the hearings continued into the evening, Ercot issued a notice saying they remain $1.3 billion short of what they need to pay generators, due to nonpayment from other market participants. ....

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