AUSTIN, Texas — The Texas House and Senate adopted the conference committee reports for Senate Bill 2627 and House Bill 5, providing a hopeful game plan that will secure the state's energy infrastructure. The two bills will be sent to Gov. Greg Abbott.
Winter Storm Uri began it's complete takeover of Central Texas on Feb. 11, 2021, causing up to one-half inch of ice accumulation in some locations, leaving many without power and access to resources. Snow and ice paired with severe low-temperatures effectively shut down roads and businesses.
According to Senate Bill 2627, by Senator Charles Schwertner, $7.2 billion in low-interest loans will be provided to build up to 10,000 megawatts of dispatchable power generation for the grid. The bill provides $1.8 billion in backup power generation infrastructure and $1 billion in support for the non-electric reliability council of Texas (ERCOT).
House Bill 5, also by Senator Schwertner, establishes a limited but competitive tax incentive program designed to encourage building more dispatchable power and attract businesses that specialize in national security and infrastructure development, to move to the state.
In response to these bills making their way to Gov. Greg Abbott, Lt. Gov. Dan Patrick shares his thoughts on successfully seeing a promise through.
"After winter storm Uri, it was clear for all to see that Texas needed more reliable dispatchable power because renewable energy sources failed to keep the lights on for millions of Texans," Patrick said. "I promised Texans that I would not leave Austin without legislation that would fix the Texas power grid...I am proud that we have delivered on that promise for all Texans...the landmark legislation package passed this evening will ensure our economic miracle continues into the mid-21st century and beyond."
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