![]() ![]() ![]() Even though gas failed in its role as a reliable backup fuel during the freeze, Abbott pushed regulators in a letter to strengthen incentives for fossil fuel and nuclear generators while increasing “reliability costs” for intermittent renewable power sources. This week, Governor Greg Abbott appeared to double down on his early assessment that wind and solar were prime culprits of the freeze. Texas lawmakers have set aside $10 billion to help natural gas utilities cover their natural gas costs from the storm through low-interest, state-backed bonds.Ī special legislative session convened Thursday but the agenda did not include any measures to fix the power grid. Millions of Texans are now faced with the prospect of paying higher gas prices for years as utilities seek to spread the cost over a decade or more. The BNEF estimate is based on spot prices at major hubs assessed by S&P Global Platts rather than private contracts, so is likely an upper limit of the total cost. A further $3 billion was spent by utilities providing gas for cooking, heating and fireplaces. The cost of gas for power generation alone was about $8.1 billion, or 75 times normal levels. Soon customers will be saddled with the bill.Īnd it’s a big one: The total comes to about $11.1 billion for a storm that lasted for just five days, according to estimates by BloombergNEF analysts Jade Patterson and Nakul Nair. Power producers were forced to pay top dollar in the spot market for whatever gas they could find. As the flow of gas cratered, everyone scrambled to secure enough supply, sparking one of the wildest price surges in history. Interviews with energy executives and an analysis of public records by Bloomberg News show that natural gas producers in the Permian shale basin began to drastically reduce output days before power companies cut them off. It’s now becoming clear that while millions of Texans endured days of power cuts, the state’s gas producers contributed to fuel shortages, allowing pipelines and traders to profit handsomely off them. Some $1.5bn was pledged to help provide humanitarian support to those affected by the Sudan crisis, according to the UNHCR.(Bloomberg) - The official autopsy of the great Texas winter blackout of February 2021 quickly established a clear timeline of events: Electric utilities cut off power to customers and distributors as well as natural gas producers, which in turn triggered a negative feedback loop that sunk the state deeper and deeper into frigid darkness. conference would help those in need of assistance. Kenya’s Prime Cabinet Secretary Musalia Mudavadi, who attended the event, said that through promoting “the socio-economic inclusion of refugees, we are collectively preparing them” for voluntary return to their countries.Īt the event, Grandi expressed optimism that despite the refugee numbers from the Sudan crisis hitting more than 500,000, pledges made in Monday's U.N. support to help refugees move from “temporary places where people live on assistance, on aid” to a “self-sustaining settlement, well-integrated in the local community.” He praised the Kenyan government, which he said was able with U.N. Grandi added that a model of the integration program was set up in Turkana County a few years ago and that the refugee community is already reaping the benefits. ![]() ![]() However, no clear timeline for its kick-off. He said that $200 million was pledged to the program and more was needed. High Commissioner for Refugees Filippo Grandi, who met with Kenya's President William Ruto on Tuesday, told The Associated Press that Kenya's planned integration program was a more sustainable approach as opposed to the current camp system that heavily relies on aid. ![]()
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