Latest news with #PublicUtilityCommission
Yahoo
5 days ago
- Business
- Yahoo
NRG Energy Secures Loan for New Texas Natural Gas Power Plant
NRG Energy Inc. (NYSE:NRG) is one of the best performing S&P 500 stocks to buy now. On August 4, NRG Energy announced that it finalized a loan agreement with the Public Utility Commission of Texas/PUCT and received initial funding for a new natural gas generation project. The project involves the construction of 2 new natural gas units at the company's existing TH Wharton power plant in Houston, as part of the Texas Energy Fund/TEF Loan Program. The 2 units will have a combined capacity of 456 MW and are expected to begin operations by the summer of 2026 in the constrained Houston load zone. Total project costs are estimated to be less than $360 million, with the 20-year TEF loan providing up to $216 million at a 3% interest rate. The loan term runs from July 31 this year through July 30, 2045. This project is the second loan agreement finalized under the TEF's In-ERCOT Generation Loan Program. Close up image of an engineer inspecting the control panel of a modern power plant. The company is pursuing additional projects under the TEF program at its Cedar Bayou and Greens Bayou sites. These 2 projects are currently in the due diligence process. If all 3 projects are approved and completed, NRG's TEF projects would bring over 1.5 GW of new natural gas generation to Texas by 2028, which is enough capacity to power more than 1.5 million homes annually. NRG Energy Inc. (NYSE:NRG) is an energy and home services company in the US and Canada. While we acknowledge the potential of NRG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
CBS News
5 days ago
- Business
- CBS News
Pennsylvania Public Utility Commission holding public hearings about Pittsburgh Water rate increase proposals
Two public hearings are being held today where people can weigh in about proposed rate increases for Pittsburgh Water. Pittsburgh Water submitted a rate increase request with the state Public Utility Commission in early June, aiming to increase revenues by more than $84 million over two years. Under the proposed rate increases, if you currently pay around $100 per month, your bill would increase to over $123 in 2026 and over $135 in 2027. Customers with bill discounts would see around an 11% increase in 2026 and around a 10% increase in 2027. The increases would be about 23.5% and 16% for commercial customers. Pittsburgh Water says the rate increase requests are for water, wastewater, and stormwater system improvements and that they allow it to build on things it's already accomplishing. Pittsburgh Water has already removed 13,000 lead service lines and says it's on track to have all lead lines in its system replaced by 2027. The Public Utility Commission says it will review the rate increase proposal and make a final decision. For more information about how to register and join the public hearings, click here.
Technical.ly
04-08-2025
- Business
- Technical.ly
What Pennsylvania's data center boom could mean for your electric bill
As data center developers invest billions in Pennsylvania, the state is weighing who should pay the literal price of their arrival. The Public Utility Commission is set to develop a proposed model tariff — a framework outlining a utility's rates, charges, and terms of service — for 'large load' customers like data centers. The PUC held a hearing in the spring to examine how to protect household consumers when companies or organizations that use a significant amount of electricity, such as data centers, connect to the grid. While the PUC has some regulatory power itself, what it determines from the hearing will likely be used to inform lawmakers' decisions, said Rep. Rob Matzie (D–Beaver), former chair of the House Consumer Protection, Technology and Utilities Committee which frequently works with the PUC. 'The commission is working to review this information in a timely manner,' said PUC press secretary Nils Hagen-Frederiksen. He did not provide a timeline for any potential decision. If projects don't pan out, residents could face 'stranded costs' Dozens of data centers are planned or already built in Pennsylvania, and state officials are pushing to make the Keystone state a leader in landing the facilities. In testimony, the state Office of Consumer Advocate emphasized protecting residents from stranded costs — where utilities invest in improvements for projects that don't materialize or use the projected electricity, leaving those households with the bill. 'Any stranded investments from large load customers paid by ratepayers hinders economic development by raising the cost to businesses and reducing spending by residents,' said Darryl Lawrence, acting consumer advocate for the Office of Consumer Advocate, in submitted testimony. The testimony from consumer advocates, electricity distribution companies, and companies that build or rely on data centers will 'inform future policy' and the creation of the model tariff, according to the PUC's news release announcing the hearing. Ohio has already enacted similar regulation It's a national concern: how to parse out charges as demand for electricity grows. Some states have been addressing the issue. Ohio's PUC this month ordered that data centers must pay a minimum of 85% of their highest forecasted electricity use, even if they use less, to cover infrastructure costs. AEP Ohio, an electric company, previously asked state regulators to require data center developers to pay for at least 90% of the electricity they requested for 10 years, whether they use that much or not. Lawmakers in Georgia are dealing with how to avoid costs shifting to small ratepayers, while increasing the state's energy capacity. Pennsylvania will grapple with the issue in the coming months: Almost 60 parties — including developers, electricity companies, advocacy groups, and citizens — submitted public comments after the hearing. And industry leaders have their eyes on Pennsylvania, with executives from Google, Amazon, Duquesne Light Co., FirstEnergy Pennsylvania, the trade organization Data Center Coalition, and others testifying at the PUC hearing. Amazon announced a $20 billion plan to build two data centers in Bucks and Luzerne counties earlier this year. And President Donald Trump and U.S. Sen. Dave McCormick recently announced $90 billion in AI, energy, and data center investments in Pennsylvania at an AI and energy summit. Local energy companies want developers to foot costs Duquesne Light Co. requires large load developers to handle the costs of their own studies and infrastructure investment, said Jamie Davis, director of rates, energy procurement, and federal/RTO affairs for Duquesne Light Co., in testimony to the PUC. Those costs should fall to large load developers when there is no benefit to other customers, he said. DLC also recommends that large load customers generate their own power to reduce any impacts on existing customers and the grid. The company serves over 600,000 customers in Southwestern Pennsylvania. Officials at FirstEnergy Pennsylvania, which serves over 2 million customers in the state, told the PUC in testimony for the hearing that developments such as data centers can pose new challenges. 'The large loads we are talking about today often require significant investment in the transmission system,' said Kelly Gower, vice president, Finance & Regulatory for FirstEnergy Pennsylvania. 'The requests we are discussing are often for new customers to be situated in geographic areas where electrical systems were not designed to support loads needed anywhere near those which are now being requested.' Protections to balance the legislative push to ease permitting State legislators are introducing an increasing number of bills specifically addressing the influx of data centers to the state, with many bills streamlining permitting. Matzie said he will introduce legislation aimed at protecting Pennsylvanians from increased costs or blackouts and brownouts, a growing concern as data centers put stress on the grid. The language of the bill, which he expects will be finalized and introduced in the fall, is dependent on insights from the PUC. 'We value the expertise over at the Public Utility Commission and what they do and how they do it, so that's a key component,' he said. 'They will be key drivers in coming up with what this final language will look like.'
Yahoo
04-06-2025
- Business
- Yahoo
Opinion - American energy is still being held hostage by Paris
The 2016 Paris Climate Accord is more than a bad deal — it is a globalist straitjacket that President Trump has rightly called a 'rip-off.' But even though Trump has pulled America out of it (twice), Paris still haunts our national security, our economy and the president's 'energy dominance' agenda. Despite Trump's unwavering commitment to withdrawing from this 'unfair, one-sided' pact and his condemnation of Biden's rejoining as a 'disaster,' powerful interests — big oil, big tech, manufacturers and industrial electricity users — are perpetuating the accord's influence. In Texas, these forces are fighting long-overdue grid reliability reforms that would force unreliable wind and solar generators to pay for the chaos they cause, costs that are dumped onto families and small businesses. This would effectively charge ratepayers to subsidize corporate virtue-signaling tied to climate commitments, leaving Texans to foot the bill for an agenda that undermines energy reliability. In 2021, Texas Gov. Greg Abbott (R) issued a clear directive to the Public Utility Commission to 'allocate reliability costs to generation resources that cannot guarantee their own availability, such as wind or solar power.' This commonsense reform would force renewable energy providers to internalize their true costs. Yet the commission has so far ignored this directive, leaving Texas families and small businesses to bear what amounts to an electricity tax. In 2023, Texas ratepayers were saddled with a staggering $2.3 billion tab to cover the costs of wind and solar power's unreliability. Trump has been crystal clear about the Paris Accord's harm, stating in the first-term executive order, 'This agreement is less about the climate and more about other countries gaining a financial advantage over the United States.' His administration's withdrawal from the accord was a bold step toward energy dominance. Yet corporate America, bolstered by misguided policies, continues to undermine his vision. Former President Joe Biden's Inflation Reduction Act pours billions in subsidies and tax breaks into inefficient solar, wind and battery technologies, inflating electricity costs and distorting markets. Congress's latest proposal, the One Big, Beautiful Bill Act, delays meaningful cuts to these subsidies. This protracted timeline will spark a frenzy of green tech deployments, further driving up electricity costs for Americans already grappling with what can only be described as an energy emergency. This is not the path to energy dominance; it is a capitulation to the 'climate cartel.' The costs of this agenda are not just financial — they are existential. Texas's energy grid, ERCOT, once a model of resilience, is increasingly strained due to the variability of wind and solar, which cannot deliver power when it is needed most. The 2021 winter storm in Texas and recent blackouts in Europe exposed the fragility of over-reliance on renewables, yet the same corporate interests that champion Paris are doubling down on these flawed technologies. The inconsistency is glaring. Big tech giants and industrial users demand grid reliability to power their production, data centers and factories, yet they fiercely oppose market reforms that would reward reliability and hold renewable energy accountable for its variability. Through power purchase agreements, these companies buy 'carbon-free' electricity to signal their Paris compliance, but buried in those deals are provisions that let renewable providers pass higher grid costs back to the buyer if and only if new rules or legislation force them to pay for their own unreliability. That is why lobbyists from Big Tech, Big Oil and 'woke' utilities have all descended on Austin to oppose reforms. They don't want their bill to come due. To break free from the Paris Climate scam and reclaim American energy independence, Texas and the federal government must act decisively. Texas has already led by example — in 2021, the state banned financial institutions that boycott fossil fuels from doing business with the state, striking a blow against the Environmental, Social and Governance or ESG movement, which I have called 'Wall Street's green coercion.' But the fight must go further. The Public Utility Commission of Texas should swiftly implement Gov. Abbott's directive to allocate reliability costs to renewable generators, ending the market distortions being fueled by corporate virtue signaling. Companies with Net Zero or Paris Accord commitments — just like those boycotting fossil fuels — should be barred from receiving public contracts, subsidies and tax breaks. These 'woke' corporations undermine Trump's America First energy agenda, and Congress is enabling them by stalling the repeal of the Inflation Reduction Act's green handouts. We need to reject the timid phasedown in the One, Big Beautiful Bill Act and instead dismantle the Inflation Reduction Act entirely. As I testified before the House Oversight Committee, this agenda diverts resources from reliable, affordable energy in service of globalist elites, threatening both our economic liberty and energy security. The grip that the Paris Accords hold on our energy system is a betrayal of Texas values and American priorities. We deserve an energy future that puts affordability and reliability first, not one manipulated by liberal executives and unelected climate bureaucrats. Trump started the fight. Paris or America? Pick one. Jason Isaac is the founder and CEO of the American Energy Institute. He previously served four terms in the Texas House of Representatives. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
04-06-2025
- Business
- The Hill
American energy is still being held hostage by Paris
The 2016 Paris Climate Accord is more than a bad deal — it is a globalist straitjacket that President Trump has rightly called a 'rip-off.' But even though Trump has pulled America out of it (twice), Paris still haunts our national security, our economy and the president's 'energy dominance' agenda. Despite Trump's unwavering commitment to withdrawing from this 'unfair, one-sided' pact and his condemnation of Biden's rejoining as a 'disaster,' powerful interests — big oil, big tech, manufacturers and industrial electricity users — are perpetuating the accord's influence. In Texas, these forces are fighting long-overdue grid reliability reforms that would force unreliable wind and solar generators to pay for the chaos they cause, costs that are dumped onto families and small businesses. This would effectively charge ratepayers to subsidize corporate virtue-signaling tied to climate commitments, leaving Texans to foot the bill for an agenda that undermines energy reliability. In 2021, Texas Gov. Greg Abbott (R) issued a clear directive to the Public Utility Commission to 'allocate reliability costs to generation resources that cannot guarantee their own availability, such as wind or solar power.' This commonsense reform would force renewable energy providers to internalize their true costs. Yet the commission has so far ignored this directive, leaving Texas families and small businesses to bear what amounts to an electricity tax. In 2023, Texas ratepayers were saddled with a staggering $2.3 billion tab to cover the costs of wind and solar power's unreliability. Trump has been crystal clear about the Paris Accord's harm, stating in the first-term executive order, 'This agreement is less about the climate and more about other countries gaining a financial advantage over the United States.' His administration's withdrawal from the accord was a bold step toward energy dominance. Yet corporate America, bolstered by misguided policies, continues to undermine his vision. Former President Joe Biden's Inflation Reduction Act pours billions in subsidies and tax breaks into inefficient solar, wind and battery technologies, inflating electricity costs and distorting markets. Congress's latest proposal, the One Big, Beautiful Bill Act, delays meaningful cuts to these subsidies. This protracted timeline will spark a frenzy of green tech deployments, further driving up electricity costs for Americans already grappling with what can only be described as an energy emergency. This is not the path to energy dominance; it is a capitulation to the 'climate cartel.' The costs of this agenda are not just financial — they are existential. Texas's energy grid, ERCOT, once a model of resilience, is increasingly strained due to the variability of wind and solar, which cannot deliver power when it is needed most. The 2021 winter storm in Texas and recent blackouts in Europe exposed the fragility of over-reliance on renewables, yet the same corporate interests that champion Paris are doubling down on these flawed technologies. The inconsistency is glaring. Big tech giants and industrial users demand grid reliability to power their production, data centers and factories, yet they fiercely oppose market reforms that would reward reliability and hold renewable energy accountable for its variability. Through power purchase agreements, these companies buy 'carbon-free' electricity to signal their Paris compliance, but buried in those deals are provisions that let renewable providers pass higher grid costs back to the buyer if and only if new rules or legislation force them to pay for their own unreliability. That is why lobbyists from Big Tech, Big Oil and 'woke' utilities have all descended on Austin to oppose reforms. They don't want their bill to come due. To break free from the Paris Climate scam and reclaim American energy independence, Texas and the federal government must act decisively. Texas has already led by example — in 2021, the state banned financial institutions that boycott fossil fuels from doing business with the state, striking a blow against the Environmental, Social and Governance or ESG movement, which I have called 'Wall Street's green coercion.' But the fight must go further. The Public Utility Commission of Texas should swiftly implement Gov. Abbott's directive to allocate reliability costs to renewable generators, ending the market distortions being fueled by corporate virtue signaling. Companies with Net Zero or Paris Accord commitments — just like those boycotting fossil fuels — should be barred from receiving public contracts, subsidies and tax breaks. These 'woke' corporations undermine Trump's America First energy agenda, and Congress is enabling them by stalling the repeal of the Inflation Reduction Act's green handouts. We need to reject the timid phasedown in the One, Big Beautiful Bill Act and instead dismantle the Inflation Reduction Act entirely. As I testified before the House Oversight Committee, this agenda diverts resources from reliable, affordable energy in service of globalist elites, threatening both our economic liberty and energy security. The grip that the Paris Accords hold on our energy system is a betrayal of Texas values and American priorities. We deserve an energy future that puts affordability and reliability first, not one manipulated by liberal executives and unelected climate bureaucrats. Trump started the fight. Paris or America? Pick one. Jason Isaac is the founder and CEO of the American Energy Institute. He previously served four terms in the Texas House of Representatives.
