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Texas has the most competitive electricity market in the world.
Why this matters to Texans is because the competitive market has blessed us with a reliable and affordable supply of electricity. Unlike some other states over the last few years, when we hit the switch the lights have come on without breaking the bank.
To help make sure that doesn’t change, we are launching our new campaign, Keep the Lights On. Like our previous effort, we still hope to End Renewable Energy Subsidies. To this end, over the next few months, we’ll highlight how Texans can maintain an affordable and reliable supply of electricity and Keep the Lights On by countering the threat from subsidies and other misguided energy policies that have already damaged communities and risked grid stability.
The challenge we face today comes in large part because renewable energy subsidies from federal, state, and local governments are disrupting competition in the market. Multi-billion-dollar, multinational corporations are getting fat at taxpayer expense while littering the Texas landscape with inefficient and otherwise unprofitable wind and solar farms. None of these facilities would have been built if not for the government providing close to 30 percent of renewable generator’s revenues. This undermines the market and disincentivizes the construction and operation of reliable plants.
We made it through this past summer, but at times it was touch and go. The danger came when the wind wasn’t blowing or the sun wasn’t shining. In those times, when we needed energy the most, we had to push reliable generators using coal, natural gas and nuclear fuel to the limit because renewables failed to deliver.
The fight against renewable energy subsidies is taking place at all levels of government and within local communities where people are struggling to protect their property. There is a lot at stake; subsidies are threatening property rights and the affordability and reliability of the Texas electricity grid. Together, however, we can work together to Keep the Lights On.
NOTE: From Texas Public Policy Foundation