The 2021 blackout was the first time a lot of people realized just how financially complicated this whole thing is: a system powered by competing interests, each trying to win a bigger share of the money we put into it.
Houstonian Sandra Edwards, whose home was so damaged by Harvey that she was displaced for two years, had only one livable room when the winter storm hit in February 2021.Sandra Edwards was still dealing with damage from Hurricane Harvey, three years earlier, when the winter storm hit in February 2021.
And those bills are from the spring — not summer, when she runs her air conditioner. She’s not alone. Texas power customers are paying more for their electricity. So where does the money go and why would it cost more if it feels less reliable?You might think the energy grid runs on natural gas or wind power, coal or maybe uranium. But really, it runs on money.— the drive to make a buck — would dictate in large part what gets built on the grid and what doesn’t.
ERCOT is a marketplace, an air traffic controller and a nonprofit quasi-governmental entity all in one. It sets the price for the REP to contract with the power generator to buy the actual electricity. ERCOT takes a fee for this transaction, say another $10. The next stop for Edwards' money is at the power generators: the solar and wind farms or natural gas plants that make the electricity. These folks get a big chunk of the bill, say $40.
Just to complicate things a little bit more, maybe some of the money goes into a pension fund. A few cents of Edwards' bill might actually make it back to her if she has a pension or 401K or something like that.Investors are putting the squeeze on the companies that they've invested in to give them better returns. The natural gas market is way up right now because of the war in Ukraine and other places.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'American Horror Story’ Season 11 Announces Cast, Including Billie Lourd and Zachary QuintoAmericanHorrorStory announces several new and returning cast members for Season 11 including Zachary Quinto, Billie Lourd, Sandra Bernhard, & more!
Read more »
Texas elections officials targeted amid 2020 fraud claims report intimidation to CongressMisinformation about elections has led to violent threats against election workers in Texas and other states — including one who was told “we should end your bloodline” — according to a new report released by a House panel Thursday.
Read more »
Why Young Leonardo DiCaprio was Snubbed for James Dean BiopicDirector Michael Mann recently revealed why DiCaprio wasn't right for the role despite an 'amazing screen test.'
Read more »
NBA to Retire Bill Russell's No. 6, Honor His Legacy in Multiple Ways Next SeasonThe NBA is going to honor Celtics legend and Civil Rights icon Bill Russell in multiple ways during the upcoming 2022-23 season and beyond.
Read more »
Federal officials tout ‘once-in-a-generation’ chance to expand broadband in Alaska'These kinds of resources, they don’t come along very often,' Assistant Commerce Secretary Alan Davidson said. 'We’re going to spend tens of billions of dollars in this country. We’re going to spend billions here in Alaska, most likely.”
Read more »
$1,600 bill for water? Magnolia residents upset, complains to city about unreasonably high water billsFamilies in one Magnolia neighborhood are desperate for answers after they reported months of unreasonably high water bills.
Read more »