Electric contracts should be squared away before summer begins: PUC Chairman Walker

By Public Utility Commission of Texas Chairman DeAnn Walker

 

Texas gets hot in the summertime. According to the National Weather Service, this summer is predicted to be hotter than usual, which means Texans are more likely to crank up their air conditioners to get through the hottest parts of the day, increasing demand across the state. When that demand combines with a supply that has recently been reduced by the retirement of several power plants, the wholesale cost of electricity in Texas could rise. That means it is time for Texans who live in areas that allow for retail competition to get their electric contract squared away before summer begins. That process is based on a few key questions:

 

Will prices go up?

Texans have become accustomed to below-average energy prices thanks to our state’s competitive electric market and a surplus of generating capacity. When electricity demand increases in times of lower supply, the market follows timeless economic principles and prices trend upward, signaling the need for private-sector investment in more generation. This summer is likely to be an up-cycle moment….

Saudi Arabia, Russia May Seek Change To Production Quota

By Alex Mills

 

Last week officials from Saudi Arabia and Russia announced they may seek a change in their current policy to limit oil production and exports.

This week the Energy Information Administration (EIA) released data stating that the reduction in production has reduced inventories. The new was anticipated because inventories had been declining worldwide and in U.S. since 2017…