The Texas Oil & Gas Association (TXOGA) hosted a summit Tuesday on the future of the power grid and power production.
Experts discussed possible ways to improve and expand the methods that power Texas homes and businesses.
Former U.S. Energy Secretary Dan Brouillette spoke at the summit about how Texas is poised to lead the country into a “more secure and prosperous energy future,” according to a TXOGA press release.
“Texas has done a great job of diversifying its grid,” said Brouillette, according to NBC DFW. “You have wind, you have solar, you have natural gas, nuclear power. You have all the right elements to provide a firm base load electricity. You just need more of it.”
The Texas Comptroller’s Office reported that, as of 2019, about 47% of the grid’s power is produced by natural gas, while about 20% each is generated by coal and wind. Nuclear followed behind these with just below 11%, and other renewable sources such as solar, hydro, and biomass collectively amounted to less than 2%.
Sen. Kelly Hancock (R-North Richland Hills) provided updates at the summit on legislative efforts to maintain the grid. Lawmakers recently passed legislation to address problems regarding the power grid.
“We’ve got to have a balanced market so we want to make sure that homeowners have the lowest cost electricity that they can have, but we also want to make sure that the lights are on and balancing that is really where the conversation is at this time,” Hancock said, per NBC DFW.
“I do think as we move forward we’ve done a lot,” added Hancock. “Now, I think it’s time for markets to kind of settle out and let investors feel comfortable coming in and investing in the type of technology that we need.”
TXOGA President Todd Staples emphasized the importance of recognizing the value of traditional energy sources, such as oil and gas.
“To continue meeting our nation’s and the world’s energy needs, we need bold energy policy leadership at every level that treats oil and natural gas as an asset, not a liability,” said Staples, per the press release.
The Texas power grid continues to hold amidst a brutal, prolonged heat wave. The National Weather Service in Fort Worth has already predicted dangerously high temperatures across the North Texas region, as previously reported by The Dallas Express.
ERCOT anticipates record demand for energy this summer but has maintained assurances that enough power will be available to meet the demand.
The elevated temperatures, however, resulted in ERCOT announcing “weather watches” lasting throughout June. The watches have not currently been extended into July.
ERCOT reported that as of June 28, grid conditions remain normal.