Biff_Poindexter
Diamond Member
:watermark(cdn.texastribune.org/media/watermarks/2022.png,-0,30,0)/static.texastribune.org/media/files/efb045b4e273471820a1896bbbce891c/Vistra%20Midlothian%20Power%20ST%20TT%2015.jpg)
Texas pipeline company walks back threat to cut off gas to power plants
The new development ends the immediate threat that up to 400,000 customers could lose power, but the underlying financial dispute between two energy giants stemming from last February's winter storm remains unresolved.
www.texastribune.org
"After threatening to cut off fuel to roughly a third of the power plants owned by Texas’ biggest power generator, a major pipeline company said Thursday it will continue selling natural gas to the plants through the end of March. But the companies have still not resolved their underlying financial dispute stemming from last February’s deadly winter storm. Energy Transfer LP walked back their threat after Luminant, a Vistra subsidiary, on Wednesday asked state regulators to prevent the pipeline company from cutting off fuel which produce enough electricity to power 400,000 Texas homes, businesses and critical infrastructure such as schools and hospitals.
The pipeline companies had told Vistra that gas would stop flowing to the power plants on Monday unless Vistra paid Energy Transfer $21.6 million that they claim Vistra owes them -- The “threat to terminate service in the middle of winter is illegal and grossly irresponsible and should be prohibited by this Commission,” Vistra said in the complaint. It called the move by Energy Transfer, run by billionaire Kelcy Warren, “a form of commercial extortion.”
Welcome to Biden's America -- if he had not stopped the Keystone pipeline from being built, none of this would be happening -- and if the Dems had not burdened energy companies with so many regulations; the collapse of the power grid last winter in Texas would have never happened....Now due to that disaster, power companies like Vistra are still dealing with the after effects....Thousands of households and businesses are still at risk of being without power due to the unfair burdens being placed on power companies -- Now Vistra will have to purchase fuel from wholesalers at spot prices -- so instead of paying $4 per BTU; they'll paying 15 to 25 per BTU....This is after they have had to pay out 1.5 billion for natural gas during the Dem-created power grid crisis from last year.
This is what happens when you allow government to get involved with regulating businesses and trying to interfere into a free-market -- which is why it is imperative that the Railroad commission steps in and prevents (or regulate) these big pipeline companies from jacking up prices and possibly taking away power from thousands and thousands of hardworking everyday Texans....
