AUSTIN – Todd Staples, President of the Texas Oil & Gas Association (TXOGA) today issued a statement following the release of the final results of Bates White’s Assessment of ERCOT Market Reform Alternatives:
“Reliability in our electric grid is essential to meet Texans’ basic needs, but so is controlling extreme costs. Having a firm and meaningful cap on the cost exposure of a Performance Credit Mechanism (PCM) is of the utmost importance to protect consumers from open-ended electricity costs.
“Without a meaningful cost cap, generators are given a blank check, and consumers will have imposed on them a giant electricity tax. All consumers should ask their legislator to protect Texas electricity rate payers from a run-away program.”
Founded in 1919, TXOGA is the oldest and largest oil and gas trade association in Texas representing every facet of the industry.