Lawmakers tasked the Public Utility Commission with overseeing the Texas Energy Fund, though the agency has no experience running a loan program.
The Texas agency overseeing a $5 billion low-interest loan program to help build new power plants, and the firm it’s paying millions to manage it, missed red flags on an application and chose the project as a finalist for a loan. When the issues came to light, the Public Utility Commission of Texas rejected the application on Sept. 4.
That’s a timeline that some grid and energy experts called too aggressive. “There’s a lot of pressure to get money out the door” on an agency that has no experience running a program like this, said Joshua Rhodes, a research scientist at the University of Texas at Austin.
Texas Energy Fund Nextera Legislature Public Utility Commission Of Texas Texas Tribune Senate Finance Committee Aegle Texas Energy Fund Advisory Committee U.S. Justice Department Deloitte University Of Texas At Austin Hearst Newspapers House Powering Texans Nathan Johnson Thomas Gleeson Kathleen Smith Rafael Anchia Paul Bettencourt Texans Will Mcadams Walt Baum Joshua Rhodes Aegle R D Texas Houston Dallas Aegle Power Emberclear Management
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