Texas
Update: NRG-Funded Report Says Texas Ratepayers On Hook For $10.5 Billion Due To Uri, Oklahomans Facing $2.8 Billion In Debt
![Update: NRG-Funded Report Says Texas Ratepayers On Hook For $10.5 Billion Due To Uri, Oklahomans Facing $2.8 Billion In Debt](https://imageio.forbes.com/specials-images/imageserve/6309026a962fe31a791b5fd3/0x0.jpg?format=jpg&width=1200)
Transmission towers close to the CenterPoint Vitality energy plant on July 11, 2022 in Houston. Ratepayers … [+]
Two days in the past in these pages, I estimated the utility debt associated to Winter Storm Uri that should be repaid by Texas ratepayers could complete $10.1 billion. Shortly after that piece appeared, I used to be alerted to an August 16 report commissioned by NRG Vitality, a Houston-based impartial energy producer, titled “Past Texas: Evaluating Buyer Publicity to Vitality Costs Spikes, A Case Research of Winter Storm Uri, February 2021.” The report, performed by consulting agency Intelometry, places the full utility-related debt from the storm in Texas at $10.5 billion, a quantity that’s $400 million increased than what I reported.
The report additionally estimates the price restoration for the Texas entities might value every residential utility buyer in ERCOT as a lot as $921. That sum consists of $498 to repay the electrical utilities, $351 for the fuel utilities, and $72 for debt that could be securitized by ERCOT. To be clear, these figures are averages and gained’t apply to each buyer. For example, ratepayers who reside in an all-electric residence won’t be accountable for repaying the fuel utilities.
The Intelometry report lists the utilities which might be in search of value restoration in Texas, in addition to the full losses incurred by utilities in different states through the lethal storm. And whereas Texas customers are getting dinged, it’s clear that Oklahoma ratepayers are getting mugged.
Intelometry reviews that Oklahoma utilities – led by Oklahoma Pure Fuel, which misplaced practically $1.3 billion, and Oklahoma Fuel & Electrical which misplaced about $740 million — will get better a complete of $2.8 billion from customers. The report estimates the price restoration in Oklahoma might improve prices for residential ratepayer within the state by as a lot as $1,622, a sum that features $427 to repay electrical utilities and $1195 to repay fuel utilities. Put one other means, residential prospects in Oklahoma may very well be saddled with practically twice as a lot in debt repayments as their counterparts who reside south of the Crimson River.
Intelometry additionally reviews that Iowa and Missouri are going through greater losses when measured on a per-customer foundation than these in Texas, however the nominal losses in Texas are bigger than in any of the 15 states lined by the report.
Why is NRG publishing a report like this? The reply seems apparent: NRG misplaced practically $1 billion as a result of Winter Storm Uri. Whereas it needed to take up the majority of these losses, the regulated utilities are being allowed to socialize their losses by making ratepayers pay the tab. Right here’s an prolonged quote from the report:
- As of this writing, now we have recognized 85 utilities both in search of or authorised storm associated restoration of practically $14.8 billion, to be paid by ratepayers, with residential prospects paying an estimated 53% of that complete. These utility-monopolies search not solely to recoup losses at their prospects’ expense, however, in at the very least some instances, to additionally cost their price of return on the losses till they’ve been recovered, thereby reworking what in a aggressive business would represent large monetary losses right into a revenue heart. In the meantime, though Texas has come to be recognized with a totally aggressive power market, it isn’t. Quite the opposite, the pure fuel utility sector for residential prospects in Texas consists fully of utility-monopolies. These entities have utilized to their regulator to get better all their extraordinary prices. Moreover, Texans residing in Austin, San Antonio, sure different cities and in rural areas haven’t any selection in electrical energy supplier. The losses the municipal and co-operative utilities skilled through the occasion can even be fully recovered from their fastened base of customers…
The report additionally has a listing of the Texas entities which might be in search of value restoration and the quantity attributed to every one. I’ve reproduced that record under.
These are the entities in search of value restoration from Texas ratepayers as a result of money owed incurred throughout … [+]
The report doesn’t point out any of the pending litigation in opposition to ERCOT and different entities. As I reported in these pages again in January, some 131 insurance coverage corporations have sued ERCOT and about three dozen electrical energy mills, claiming that they’re guilty for the facility outages throughout Uri. That litigation is approaching high of dozens of non-public damage and tort claims which have been filed in opposition to the grid operator. If the courts rule that ERCOT doesn’t have sovereign immunity, Texas ratepayers may very well be required to pay much more than the $10.5 billion detailed by the Intelometry report.
Lastly, as I discussed in my piece on Wednesday, the elevated prices that will probably be absorbed by ratepayers within the type of surcharges on their payments to pay for value restoration to the electrical and fuel utilities will come on high of upper costs already being paid by Texas customers. I additionally famous that knowledge revealed by the Texas Public Utility Fee exhibits that electrical energy costs in a number of areas of the state greater than doubled between June 2021 and June 2022. That matches with what I’m listening to anecdotally. A pal of mine in Houston instructed me yesterday that the electrical invoice for his modest ranch-style home has practically doubled over the previous yr, going from $335 per 30 days to $637.
The $10.5 billion debt, which will probably be repaid over the following 30 years, together with at this time’s increased electrical energy costs present but once more, that ratepayers all the time get caught with the invoice.
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Texas
Texas Rangers Outslugged By San Diego Padres As Bullpen Falters
![Texas Rangers Outslugged By San Diego Padres As Bullpen Falters](https://images2.minutemediacdn.com/image/upload/c_crop,w_5894,h_3315,x_0,y_489/c_fill,w_1440,ar_16:9,f_auto,q_auto,g_auto/images/ImagnImages/mmsport/inside_the_rangers/01j1xvx9hyqr56cjc3np.jpg)
ARLINGTON — The Texas Rangers continued to slug, to an extent, but their pitching failed to hold down the San Diego Padres in a 6-4 loss Wednesday night at Globe Life Field.
The Rangers scored three times in the third and another run in the fourth to take a 4-2 lead, but the Padres scored a run in the fifth, sixth, and two more in the seventh on a two-run home run from David Peralta to snap the tie.
The Rangers’ two-game win streak was snapped as the Padres evened the series ahead of the 1:35 p.m. Thursday finale.
Texas continued to hit for multiple extra-base hits, but they were all confined to their three-run third when Jonah Heim, Corey Seager, and Josh Smith doubled to give the Rangers a 3-2 lead.
The Rangers bullpen faltered, however, which was forced into early action after starter Jon Gray was pulled with two on and no outs with a 4-2 lead in the 5th.
The big blow came against Dane Dunning, who took over for Jacob Latz in the sixth, who had replaced Jose Leclerc after he put the leadoff batter on with a hit-by-pitch.
Dunning was charged with two runs on three hits in 2 1/3 innings.
Marcus Semien, who was 0 for 4 with a run scored, was the only starting Rangers player who didn’t collect a hit.
Starter Jon Gray allowed a single and walk to start the fifth and was replaced by Jose Leclerc. Gray was charged with three runs on seven hits and two walks. Leclerc nearly escaped the inning but a dribbler down the third-base line bounced over the outer edge of the bag and was called fair, which allowed a run to score. Otherwise, Leclerc retired Manny Machado, Donovan Solano before striking out David Peralta to preserve a 4 3 lead.
Leody Taveras is batting .412 with three walks, two stolen bases, and three RBI in the past seven games. He drove in a run with a sacrifice fly in the third Wednesday and later singled.
Max Scherzer (1-1, 1.74) makes his third start of the season in the series finale against right-hander Michael King (6-5, 3.61) at 1:35 p.m. Wednesday.
You can follow Stefan Stevenson on X @StefanVersusTex.
Catch up with Inside the Rangers on Facebook and X.
Texas
Texas A&M OF Caden Sorrell, Pitcher Justin Lamkin Announce Return to Aggies
![Texas A&M OF Caden Sorrell, Pitcher Justin Lamkin Announce Return to Aggies](https://images2.minutemediacdn.com/image/upload/c_crop,w_4202,h_2363,x_0,y_0/c_fill,w_1440,ar_16:9,f_auto,q_auto,g_auto/images/ImagnImages/mmsport/all_aggies/01j1x87f2hzhgfkk5fdp.jpg)
A week ago, it looked like Texas A&M Aggies baseball was falling into the basement.
Not only had their head coach accepted the head coaching job for their arch rivals, the Texas Longhorns, but nearly every impact player from their College World Series team had entered the NCAA Transfer Portal.
However, things have now turned around in a big way.
With the hiring of new head coach Michael Earley, the Aggies had managed to retain a good portion of those players entering the portal, including Jace LaViolette, Gavin Grahovac, Ali Camarillo, Hayden Schott, and Kaeden Kent.
Now, he has done it again, with standout freshman outfielder Caden Sorrell and pitcher Justin Lamkin both announcing their intentions to stay with the program on Wednesday with a post on X.
“No place like HOME,” Sorrell said his his post with two thumbs up emojis.
Last season in his first year with the Aggies, Sorrell exploded on to the scene, hitting .275 with a .369 OBP and .555 slugging percentage in 62 games. In 214 total plate appearances and 182 at bats, Sorrell scored 44 runs with 50 hits and 43 RBI, along with 11 home runs. He also finished the year with eight doubles, three triples, and nine stolen bases to his name.
Lamkin, meanwhile, his announcement on Instagram.
Left handed pitcher Justin Lamkin announces his return to Texas A&M on Instagram after a legendary showing in June at the College World Series. pic.twitter.com/YdDD3eBAQh
— Ryan Brauninger (@R_Brauninger) July 3, 2024
In his second season with the Aggies, Lamkin went 3-3 with a 5.21 ERA in 19 games with 16 starts. He pitched 65.2 total innings and gave up 64 hits with 38 earned runs, striking out 88 of the 289 batters he faced.
Texas
Texas A&M Chancellor Takes Shot At Jim Schlossnagle For ‘Shady’ Exit
![Texas A&M Chancellor Takes Shot At Jim Schlossnagle For ‘Shady’ Exit](https://images2.minutemediacdn.com/image/upload/c_crop,w_4525,h_2545,x_0,y_0/c_fill,w_1440,ar_16:9,f_auto,q_auto,g_auto/images/ImagnImages/mmsport/all_aggies/01j1wgcdra1k0jz61d29.jpg)
The Texas A&M Aggies lost former head coach Jim Schlossnagle to their arch-rival Texas Longhorns last week, in a move that shocked Aggie fans everywhere.
After all, Schlossnagle had just berated the media the evening before bolting for Austin for simply asking questions about his connection to the job. Nonetheless, Schlossnagle left, leaving an extremely sour taste in the mouths of Aggies everywhere.
And following the swift hiring of Michael Earley as Schlossnagle’s replacement, Texas A&M Chancellor John Sharp took the opportunity to take a shot at the former coach during Earley’s introductory press conference.
“Considering the shady way this all happened & the final result, A&M got the far better part of this deal,” Sharp told Brent Zwerneman of the Houston Chronicle. “A coach loyal to his players & school is worth his weight in gold. Now we’ve got that coach.”
However, Sharp wasn’t the only person in the Aggies organization who was thrown off by Schlossnagle’s actions.
Following his exit to the Longhorns, it was reported by Kendall Rogers of D1Baseball that a deal had been done between Schlossnagle and Texas before the start of the postseason.
Texas A&M Athletic Director Trev Alberts has now seemingly backed up those reports, telling Zwerneman that Schlossnagle was extremely avoidant in the weeks leading up to his exit.
Per Alberts, Schlossnagle avoided a meeting scheduled regarding the renovation of Blue Bell Park – allegedly a major sticking point for the coach – and canceled one-on-one meetings with the AD.
“We hosted a regional, and after the regional, I said, ‘Can we meet?’ ” Alberts said to Zwerneman. “We scheduled a meeting for Monday (June 3), and he canceled. We scheduled a meeting for that Tuesday, and he canceled… That Wednesday I went and sat … (Schlossnagle’s) son was in his office, and so I sat in (assistant coach) Nolan Cain’s office. I talked for 40 minutes with Nolan Cain until he came.”
At the end of the day, what’s done is done. Schlossnagle has departed College Station, and Earley is now leading the charge.
And it seems all of Aggieland is thrilled with the outcome.
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