PUCT issues first notice of eligibility to Texas energy fund Completion Bonus Grant Program applicant

AI generated summary

The Public Utility Commission of Texas (PUCT) has issued its first notice of eligibility for the Completion Bonus Grant Program to the Lower Colorado River Authority (LCRA) for the Timmerman Power Plant project. This project is set to add 188 megawatts (MW) of dispatchable generation to the Electric Reliability Council of Texas (ERCOT) grid. If the plant connects to ERCOT by June 1, 2026, LCRA could receive up to $22.56 million, with payments distributed annually over ten years based on performance and reliability metrics.

Eligible companies that add at least 100 MW to the ERCOT grid can apply for the Completion Bonus Grant, which offers $120,000 per MW for projects completed by June 1, 2026, and $80,000 per MW for those completed between June 1, 2026, and June 1, 2029. The grant program is part of the Texas Energy Fund (TEF), established under the Powering Texas Forward Act, which aims to support the construction and operation of electric facilities in Texas.