Texas lawmakers say power companies need to weatherize their plants … or pay the price.
In response to February's deadly winter storms, the Texas Senate has approved a plan that could fine electricity and natural gas companies up to $1 million a day if they don't weatherize their facilities. The senate unanimously approved the bill, known as the Power Grid Stability Bill, yesterday.
Texas Sen. Charles Schwertner says the bill does more than just slap companies with fines.
"The bill provides robust planning, oversight and communication of load shedding procedures during outages," Schwertner said during yesterday's meeting. "The bill protects consumers by prohibiting wholesale index plans for residential and small businesses to prevent predatory pricing."
The bill also sets up a system, similar to one currently used for hurricanes, to warn people about the risk of impending blackouts.
In a statement, Lt. Governor Dan Patrick said he supports the bill, writing, "I congratulate Sen. Schwertner and the Texas Senate on passing SB 3 unanimously today. I hope that Speaker Phelan and the Texas House will take up SB 3 quickly and send it to Gov. Greg Abbott's desk."
