TXOGA applauds strategic commitment to West Texas growth and energy security
Following the announcement, Texas Oil & Gas Association (TXOGA) President Todd Staples issued the following statement:
"Today's decision by the PUC to approve transmission lines in the buildout of the Permian Basin Reliability Plan further reinforces Texas' ongoing commitment to fostering economic growth, creating jobs and strengthening our energy independence. We thank PUC Chairman Thomas Gleeson, Commissioners Kathleen Jackson and Courtney Hjaltman, as well as staff, for their diligent and thoughtful work to advance this project. Former PUC Commissioner Lori Cobos also worked extensively on this issue. This decision is critical to ensuring that reliable power is available for oil and natural gas production and industrial development across West Texas — enabling the energy sector to continue delivering affordable, secure energy to Texas, the nation, and the world."
Conditionally approved in September 2024, the Permian Basin Reliability Plan addresses persistent concerns over insufficient transmission capacity in one of the most productive energy regions in the country. The plan is designed to support the region's strong and growing electricity demand and unlock continued economic development across the Permian Basin.
The Commission's endorsement of the 765-kV configuration signals not only the urgency of West Texas growth but also confidence in the ability of Texas transmission providers to deliver the project on time and within budget, despite challenging economic conditions. It also reflects the PUC's investigation and conclusion that the 765-kV approach offers the best long-term path to expand ERCOT's capacity and meet the state's growing power needs.
The buildout will represent the largest high-voltage transmission investment in Texas in more than a decade — a bold step toward future-proofing the grid and reinforcing Texas' global energy leadership.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Journals
4 hours ago
- Business Journals
Kendra Scott returns as interim CEO amid executive shakeup at Austin-based jewelry company
Story Highlights What's This? Kendra Scott returns as interim CEO amid departure of top executives. Scott increased her majority stake after 65 Equity Partners' investment. Neal Bronzo and Beth Ley join Scott in executive roles. Kendra Scott is retaking the reins of her Austin-based namesake company on an interim basis amid a major management shakeup. She'll become interim CEO of Kendra Scott Design Inc. in the wake of the departure of three top executives — CEO Tom Nolan, Chief Financial Officer Jason Friesen and Chief People Officer Danielle Stewart, according to a report in Adweek. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events Scott, who founded the company in 2002, was CEO of the jewelry and lifestyle brand until 2021, when she became its executive chair. She retained a majority stake in the privately held company and then increased her share a year ago when 65 Equity Partners, a Singapore-based private equity firm owned by Temasek Holdings, bought a minority stake. As part of that deal, two of the company's earlier private equity backers, Berkshire Partners and Norwest Venture Partners, fully redeemed the preferred stock investments they held. Scott did not immediately respond to a request for comment. Don't miss the latest San Antonio business headlines! Sign up here for SABJ newsletters and make sure to download the app. According to Adweek, two longtime Kendra Scott executives are joining Scott in her return. Neal Bronzo will serve in the combined role of interim CFO and chief operating officer, and Beth Ley will return as chief people officer. In a statement to Adweek, the company said it's "entering an exciting new chapter of expansion across channels, categories and markets" in the wake of "a record-breaking year of growth" and the investment by 65 Equity Partners. "As part of this transition, CEO Tom Nolan, CFO Jason Friesen, and CPO Danielle Stewart have departed the company," the statement said. "We are grateful for the leadership, expertise, and vision they brought to Kendra Scott." Today, the company's designs are sold at Target, Nordstrom, Bloomingdale's and in 130-plus Kendra Scott stores — including multiple in San Antonio. The company, headquartered off North Lamar in Austin, had more than 2,600 employees, according to a 2024 report.
Wall Street Journal
a day ago
- Wall Street Journal
Dr. Phil's Upstart TV Network Abandons Its Chapter 11 Case
Merit Street Media, the television network and streaming service backed by TV personality Phil McGraw, is seeking to end its chapter 11 case, saying it can't pay the legal fees needed to stay under court protection. Merit said in court papers Monday that it can no longer administer its bankruptcy case because of mounting professional fees and inadequate funding to pay those bills. Merit's lawyers from the law firm Sidley Austin moved to withdraw as bankruptcy counsel, saying they were exposed to 'unreasonable and unjustifiable financial burden and risk.'
Geek Wire
a day ago
- Geek Wire
Tech Moves: Key AWS chip engineer to depart; former longtime Microsoft leaders take new roles
Rami Sinno. (AWS Photo) — Rami Sinno, director of engineering at Amazon Web Services' Annapurna Labs — ground zero for the tech giant's silicon chip development — is reportedly leaving the company. Sinno will build the high-demand processors for United Kingdom-based Arm, according to Reuters, which broke the news. Before joining AWS in 2019, Sinno was a lead engineer for Arm for more than five years based in the Austin area. Sinno has worked on computer processing chips since his first role at Intel in 1989. In an interview last year with IEEE Spectrum, Sinno spoke of his decision to join AWS. 'The interesting stuff is happening when you control the full hardware and software stack and deliver directly to customers,' he said. At Arm, Sinno will aid the semiconductor and software company in developing 'its own complete chip,' Reuters reported. Sean Alexander. (LinkedIn Photo) — Sean Alexander, a former Microsoft AI executive who logged more than 25 years at the tech giant, is now senior vice president of connectivity ecosystems at the global communications company Lumen. 'Lumen is redefining what digital networking infrastructure means in the AI era and that opens the door to new kinds of partnerships, innovation, and value creation,' Alexander said in a statement. 'I'm thrilled to join a company building the connective tissue between our customers, our technology and the ecosystem around us.' Alexander's past positions at Microsoft included principal director roles of engineering for cloud and AI for industry, and of business AI for Microsoft AI and Research. He served as president of the consulting firm Phoenician Advisors for more than two years after departing the Redmond, Wash., software giant. Cyrill Glockner. (LinkedIn Photo) — Former Microsoft director Cyrill Glockner joined Sophia Space as vice president of strategic partnerships and product strategy. 'Space is no longer science fiction, it's becoming the infrastructure layer for Earth's most compute- and energy-intensive technologies,' Glockner said on LinkedIn. The company is adding 'intelligence to satellite missions in low Earth orbit and expanding to support full-scale AI workloads…' Glockner was with Microsoft for 14 years ending in 2013, and later rejoined the company for a five-year run as director of business AI that concluded in 2023. Ritesh Daryani. (LinkedIn Photo) — Ritesh Daryani is the new chief human resources officer for Siteimprove, which helps customers improve the quality, accessibility and search engine optimization of their websites. The company is based in Bellevue, Wash., Copenhagen, Minneapolis and London, and Daryani will be located at the company's Bellevue office. Daryani was previously at the healthcare tech company Edifecs for nearly a decade in the role of chief people officer. Past employers include Expedia, Infosys, IBM and others. 'As we enter our next phase of growth and scale, [Daryani's] leadership and deep expertise in building world-class teams will be instrumental in shaping our culture and empowering our people to achieve extraordinary results.' said Siteimprove CEO Nayahi Nayyar in a statement. Jenny Fu. (LinkedIn Photo) — Jenny Fu is now head of finance and operations for Dropzone AI, a Seattle cybersecurity startup. The company last month raised a $37 million Series B round. Fu joins Dropzone from Bellevue's Educative where she served as global vice president of finance and operations. Fu's other roles include positions at PicMonkey, Starbucks and Quantum. She also worked for ExtraHop during a run that overlapped with Dropzone CEO and founder Edward Wu. — Gavin Hewitt, a long-time sales leader and an operating partner at the Seattle venture capital firm Ascend, is now CEO of Velou. The New York City startup is using AI to promote a brand's product visibility online. Velou has created a tool that self-optimizes the content of online shopping catalogues to reflect real-time insights of consumer behavior. Hewitt was previously Velou's chief operating officer, joining the company last year. His past employers include Attentive, Yonder, GiftNow and others. Bernardo Mendez-Arista. (LinkedIn Photo) — Bernardo Mendez-Arista shared news that he is CEO of a Seattle startup developing shipping container management technology. His previous roles include numerous product management positions at wide-ranging companies. 'While we're keeping the details under wraps for now, I can share that our solution has the potential to revolutionize how ports and warehouses manage container flow — making operations faster, more accurate, and less expensive,' Mendez-Arista said on LinkedIn. — Former Salesforce vice president Justin Beck is now CEO of Gravyty, a Massachusetts-based startup that facilitates alumni donations and engagement. The company also has an office in Seattle. The news follows Gravyty's merger with and Ocelot and its acquisition of Athlete Network.
