Proposition 7 Doesn't Fulfill Promise
Analysis Shows Texans Could Still Be in the Dark After Spending Billions
AUSTIN, Texas, Oct. 31, 2023 /PRNewswire/ -- Texas voters, through Proposition 7, are being asked to approve a $10 billion energy infrastructure loan program under the promise it will "fix the grid" and prevent future grid outages. Preliminary analysis by IdeaSmiths and Astrape Consulting shows the program will not achieve any of these objectives.
The analysis shows that if voters approve $10 billion in subsidies to multi-billion-dollar companies, it will only result in an additional 1,000MW of net power generation. ERCOT has called for 3,000MW of additional power by this January to ensure reliability during the winter. Industry experts believe that overall demand statewide will grow by 5 percent per year.
Additionally, proponents of the loan program promised to improve reliability, with a goal of 1 day of rotating outages every decade, consistent with national standards. The analysis shows that the loan program will result in nearly two days of outages every year.
"It's increasingly clear that the legislature didn't do all the homework needed to determine if this program was the best use of taxpayer dollars. Once again, Texas families are being asked to spend billions with no real benefit or reliability improvements in electric service," said Sandra Haverlah, president of Texas Consumer Association (TCA).
TCA is encouraging Texans to vote no on Proposition 7.
To see the preliminary analysis, visit:
https://static1.squarespace.com/static/609af8d084bf40321374ca1c/t/6540087b24d78d556fd01f73/1698695291344/Impact+of+SB2627.pdf
Texas Consumer Association is a non-profit organization representing individual and small-business consumers on pocketbook issues for over 50 years. Find TCA at https://www.texasconsumer.org/ and on X (Twitter) @TXConsumer. Email [email protected]. For more information or questions, you can reach Sandie Haverlah, President of TCA, at (512) 423-0913.
SOURCE Texas Consumer Association
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