https://safirsoft.com Texas natural gas customers are stuck with $3.4 billion in additional costs for colds

The state Oil and Gas Regulatory Authority will allow waivers for winter applications.

Texas will pay for cold last February for decades because the state's oil and gas regulator approved a plan for natural gas companies. Recovering $3.4 billion in outstanding debt during the storm.

The regulator, the Railways Authority, allows utility companies to issue bonds to cover debt. As a result, bill-payers could see their bills rise over the next 30 years, and he knew that in a winter storm, natural gas prices rose as colder temperatures boosted demand while reducing supply. Much of Texas' natural gas comes from the fermentation process, which uses large amounts of water. To prevent wells from freezing, many manufacturers shut down their wells before a storm. The governor's office was aware of the potential deficiencies a few days before the deficiencies occurred, but the preparations they made did not change much in the context of the disaster.

The shortage has caused a cascade of impacts across the state. Many wells run on electricity, but the government has lost half of its production capacity. Many natural gas plants were forced to close because they were not exposed to the air - their equipment was literally frozen. Even those who were able to operate had difficulty obtaining gas because the wells were either closed or frozen. Electricity producers paid an additional $8 billion to gas producers during the five-day storm. At the current prices at the time, it was very normal.

Meanwhile, many Texans have been suffering from blackouts and freezing cold, and according to the Texas Department of Health's latest estimate, 210 people are dying. In a law passed in May, the Railroad Commission had the power to draft regulations on critical gas infrastructure, including winterization. But the regulator says the law includes a loophole that allows gas producers to apply for a $150 waiver. (The cost is set out in another Texas law, which lawmakers seem to have overlooked.) On the other hand, a well winter can cost tens of thousands of dollars. They have to contend with Texas' deep freeze problems, and Texas isn't the only one whose holdings have been overwhelmed by manufacturers and companies' reluctance to winterize their equipment. When Texas markets suffered from low supply and high demand, energy companies across the country were forced to buy natural gas at much higher prices. After their utilities companies had to pay $800 million more than expected for natural gas, price payers even Minnesota will pay extra fees for years to come. "Ignorance and disregard for utility systems in Texas makes my blood boil and keeps me up at night," Katie Sibbon, chair of the Minnesota Public Service Commission, told the Washington Post in April. "It's insane and cruel, and it is completely inexcusable that the lack of proper regulation of electrical installations in Texas would have an effect on the rest of the country."

Texas natural gas customers are stuck with $3.4 billion in additional costs for colds
texas-natural-gas-customers-are-stuck-with-3-4-billion-in.html

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