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Public Utility Commission Of Texas Adopts First Rule For Implementing Texas Energy Fund New Rule Establishes In-ERCOT Generation Loan Program
The Public Utility Commission of Texas (PUCT) adopted a new rule implementing the Texas Energy Fund In-ERCOT Generation Loan Program. This program will incentivize the construction of new dispatchable electric generating facilities or the expansion of existing facilities within the Electric Reliability Council of Texas (ERCOT) region by providing low-interest loans to qualifying companies. The new rule establishes the application process, project eligibility requirements, evaluation criteria, and loan terms.
The Texas Legislature established the Texas Energy Fund (TEF) through passage of Senate Bill 2627. SB02627F, the Powering Texas Forward Act, in 2023. The rule adopted today specifically establishes the In-ERCOT Generation Loan Program, one of four Texas Energy Fund programs. The other three programs within the TEF include Completion Bonus Grants for new dispatchable generation projects that consistently provide power generation over a ten-year period, grants for companies to establish or secure Back-Up Power resources, and grants to improve the resiliency and availability of electric utility service outside the ERCOT region. The TEF has $5 billion available for all four programs, and additional funding may be provided by the legislature in future years.
TPUC Press Release
Order Adopting 16 TAC §25.510 (Revised Staff Recommendation) (1-100). (03/19/2024)
Order Adopting 16 TAC §25.510 (Revised Staff Recommendation) (Pages 101-155) (03/19/2024)
55826 (01/21/2023)
(Texas Energy Fund In-ERCOT Generation Loan Program)
