The Public Utility Commission of Texas called Thursday for reforms in the Electric Reliability Council of Texas to enhance market efficiency while implementing a scarcity price adder more frequently, but rejected another market reform stakeholders suggested.
Texas regulators approved a proposal to change the way wholesale electricity markets work in Texas, a move expected to significantly boost revenues for power generators while increasing electricity prices for consumers and businesses.
Even more so going forward, natural gas will be the main source of U.S. electricity, currently at 33% of all generation. Electricity accounts for a leading 35% of total U.S. gas demand, or a rising 9.6 trillion cubic feet consumed for power burn per year. Impressively, even though U.S. power consumption has been flat, our gas used to generate electricity is up 42% in the shale-era since 2008.