Texas Governor Greg Abbott and Lieutenant Governor Dan Patrick have proposed doubling the state’s budget for the Texas Energy Reliability Fund. This call comes in response to the winter storm in February that led to widespread power outages and water shortages across the state.
The fund, which currently stands at $1 billion, was created in 2019 to provide financial assistance to electricity providers for weatherization upgrades and infrastructure improvements. The state leaders believe that increasing the fund’s budget to $2 billion will help prevent future energy crises and better prepare Texas for extreme weather events.
Both Abbott and Patrick have been vocal in their criticism of the Electric Reliability Council of Texas (ERCOT) and the Public Utility Commission of Texas for their handling of the February storm. The proposal to double the energy fund’s budget is seen as a step towards holding these entities accountable and ensuring that they take necessary measures to prevent similar disasters in the future.
The decision to increase the fund’s budget will ultimately rest with the Texas Legislature, who will need to pass a bill to authorize the additional funding. Lawmakers are expected to debate the proposal in the upcoming legislative session, and it remains to be seen whether they will support the measure.
Overall, Abbott and Patrick’s call to double the budget for the Texas Energy Reliability Fund highlights the state’s commitment to improving its energy infrastructure and protecting Texans from future power outages. As discussions continue in the Legislature, residents will be watching closely to see how the state plans to address energy reliability and resilience moving forward.
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