35 Burst results for "Ercot"
CoinDesk Podcast Network
The NYT Bitcoin Mining Hit Piece Is an Ode to Intellectual Laziness
"This week after so, so much discussion about this New York Times mining article. I had to read a couple of rebuttal pieces. Instead of talking too much about the setup to the piece, I'm just going to let these essays speak to the issues themselves. The first piece comes from David Z Morris at coin desk and is called The New York Times skewed Bitcoin mining expose reveals blatant bias, a new hit piece from the paper of record makes it clear. These are not serious people. David writes, for much of March, rumors flew in crypto back channels that The New York Times was working on a major new expose on cryptocurrency. It would, of course, focus on the only crypto topic the times is truly interested in. The massive apparently catastrophic energy cost of Bitcoin mining. That rumors hit peace arrived on Sunday, April 9th, and it is profoundly strange. Its actual findings are stretched to fit a conclusion handed down. It seems clear from the newspapers higher ups. On its face, the piece is almost comically incoherent, but the very incoherence highlights its real message. Bitcoin is bad because we say it is. While the headline grandly declares it will expose the real world costs of the digital race for Bitcoin, the bulk of the article's factual findings seem to describe failures in a specific load balancing incentive program in Texas. The program is offered by the electric reliability council of Texas or ercot, and is available to customers in any industry. The times piece seems to take issue only with its use by Bitcoin miners. In the course of this critique, the report repeatedly indulges in wild non sequiturs. Some almost surrealistic in their juxtaposition of Bitcoin mining with unrelated negative events. Quote, as beautiful as the chance encounter of a sewing machine and an umbrella on an operating table. But another way, this is journalism as an exercise in raw power, throwing disconnected facts under a tendentious headline and calling it a day. Let's talk about real problems. To be clear, I agree that Bitcoin's network energy consumption and energy consumption model are less than ideal. The real problem, one not addressed directly in the times piece is that Bitcoin mining has no inherent upper bound. In theory it could spiral ever higher, though in practice, it is rained in by real world economics.
What Bitcoin Did
"ercot" Discussed on What Bitcoin Did
"And so if they're load going up, they bring generation on because they don't change the frequency. And they're always balancing around that frequency. And then in the winter storm event, essentially what happened was is that load kept going up. And there was enough generation to meet that. And so what a great operating to do is they need to start load shutting. And so during that event, there was several days of blackouts that were in Texas. And it was a prolonged event. And for context of what it looked like for Bitcoin mining, there was approximately about 600 megawatts of Bitcoin mining connected in ercot at that time. We have high degree of certainty that the majority of those megawatts actually turn offline. For that event. But there's 600 megawatts turn off line, but winter storm Yuri was very complex and you can't just kind of point the finger at just one thing that happened. Does that make sense for kind of well, it sounds like what you're saying to me is that the grid and Texas isn't ready for a rare freak cold spell. Yes, if you think about power plants, the coal plants are natural gas plants, there's a big Bill that kind of happened in the 70s in the 80s. And those plants have a life expectancy about 50 years. So that kind of takes us up to where we are now. And so it's kind of this combination of this kind of freak weather event, but it's also that you have these plants that are coming to the end of life. And so are they going to be reliable and kind of be able to come online. And so there could be some challenges with that. So it's really understanding that every single region has a different mix of generation and power grids are very complex and I'm sure it can kind of boil it down to kind of a simple kind of this is what happened. And if we had this magic bullet, this would have saved it. But it was very tricky and challenging.
Newsradio 1200 WOAI
"ercot" Discussed on Newsradio 1200 WOAI
"And dry weather looks to be the story the next couple of days. We'll see some clouds overnight lows in the mid seventies morning clouds Wednesday afternoon Sunshine, a high of 93, sun and clouds and little bit nineties. Thursday, meteorologists Mark Thibodeau from the Weather Channel on San Antonio's official weather station. NewsRadio. 1200 W O A I HEART TOP story. Texas Governor Greg Abbott made reforms to the state's power grid. One of his priorities and today signed bills passed by the Legislature. Is that everything? It needed to be done. Was done to fix the power grid in Texas. What are the bills he signed today will shrink the ERCOT board from 16 members to 11 and require most members to now be appointed by the Legislature. Another bill requires power plants to be more winterized. All of these measures come on the heels of the massive power outages the state had back in February during winter storms. The head of a pipeline company that runs from Texas to New York, explaining today why they paid ransom after the cyber hackers hit and locked up their computers. I know how critical our pipeline is to the country and I put the interests of the country first. Joseph Blonder runs Colonial Pipeline says they paid $4.4 million in ransom. About 2.3 million of that has now been recovered by the Justice Department. Executives from the airline industry want travel between the US and the United Kingdom to be a little bit easier. Here's our Sarah Bartlett with details. They're calling on President Biden to allow U K travellers to freely fly if they're fully vaccinated against coronavirus or can prove they tested negative for Covid 19. Delta Airlines CEO Ed Bastian claims there is an extraordinarily low risk to travel between the two countries if travelers are vaccinated or test negative. The call to loosen travel restrictions comes as Biden will meet with British Prime Minister Boris Johnson this week. Republicans and many Democrats complaining today that Vice President Kamala Harris has not yet visited the US Mexico border despite being assigned by the president to work on solutions in the ongoing border crisis. Harris, who is in Mexico today, says the problems at the border are complex and she says cannot be fixed quickly. We cannot Have that question and had that conversation without also giving equal weight and attention. What is causing that to occur. Paris spoke after meeting with Mexico's president..
Oil and Gas Startups Podcast
"ercot" Discussed on Oil and Gas Startups Podcast
"I think i that's going to ruffle feathers gonna piss off. So yeah margaret participants especially since this has been going for so long but but but obviously some changes happen so this is where we talked about a hybrid again and again i. It's it's only seems to be problematic here because pj m. iso o. New england new york is a ally. So all these other entities that operate markets are all under firkh so first things first i would level the playing field let we i mean we know why it is right so i would first things first. We are under forks jurisdiction right. We've got some accountability. Going on a second. I would suspend the mark the market as its it. Return to a form of vertical integration. If you will load frequency control where arcot operators get to do what they were trained to do. They get to balance balanced. This is listening. Because like i know you're kind of a free market guy. I am except when it comes to this. Yeah how do you talk out of both sides your mouth. 'cause i'm well i'm and i'm having problems swallowing this even though i won't reliable power i'm i'm willing to swallow. I'm having trouble swallowing it. But i'm willing to pay a little bit more power. Just sign another. It's there. I'm gonna tell you what i'm not suggesting. I didn't say terminate said suspend. Okay get with the pj. The iso's the aso use them as consulting. Consult with them on what they're doing differently. Yeah and rebuild your more immediate and make it to texas as we're going to be heavy market based life and we should and that's good it is. I am a capitalism guy. Yeah so so it's a hybrid model is just like you. Space base load is a critical. Mass of baseload is always there. There's a premium you pay for. Everybody pays for insurance on their house in their car. In almost nine times out of one hundred but century the vast majority of the time it just goes in the insurance inch the under policy underwriters pocket. And that's just cost to doing business so so under for dispelled disband urquhot and all the little cronyism Would you call them. Tre's and then the p. uc's and the ymca gotta key eight wise. Yeah okay you're my point. yeah All these verb superfluous acronyms acronyms for for for for just essentially sounds they. Just people who get tapped political accessing. Probably get greece. I would say you know. I don't want to get rid of the tre's. I think you need to clean house and certain aspects absolutely model because all those other entities again all those other entities have versions of the yes. Okay all the north of us clean house. Yeah you have reliability. I which works with. Pj m nosso iso to do that. Same function but the difference..
Oil and Gas Startups Podcast
"ercot" Discussed on Oil and Gas Startups Podcast
"And this is this is. This is two parts of the same problem. I'll absolute whether you're talking. It's chronic throughout. Somebody has a handful of people when when when the rubber meets the road of reliability. And making sure that the citizens of the state of texas have reliable power. But when there's something that's uneconomical for the providers who have to make money. I get it but it's almost like they don't wanna take a loss at all at any point and then when you buy sell trade you take wins you take losses and your net all in should always be more or go out of business. And that's understandable but they don't even want to take losses when they get things wrong and there's there's a certain in the knowledge that they have access and have a direct line of access to the guy who can make that little heiki on their balance she go away. That's a problem. It's a huge problem. And that's exactly what we're gonna get into now is that third element is how the market operates here. Okay right so. This is a huge black guy for markets in general right as much as it is for market or i'm sorry for the cotton market and the state of texas scala. What it is is. There's markets being there's electrical power markets like energy markets being operated all around north america. Right now as we speak that. I'm not gonna say they're not subject to the same issues but they certainly don't have the same number of public publicly reported problems that we have right Pj m which is pennsylvania new jersey maryland. They got they have the game on lock in my opinion right and even they still have issues right. They had some About a month ago they were having some issues with publishing certain information into their market and it caused issues but they resolved it quickly by Essentially taking the steps that they needed to take to make sure reliability came first liability came before somebody else's profit at the end of the day every single one of us operates as a vertically integrated utility when it comes down to it right and you have somebody up at the top. That says if you don't do this we're going to. We're gonna fall apart as a system. So i'm giving you an operating instruction you will do this. And unless it's going to the only way they can ignore that or not follow that operating instruction is if it risks equipment.
Oil and Gas Startups Podcast
"ercot" Discussed on Oil and Gas Startups Podcast
"Don't wreck electric reliability council of texas right and tre. Excuse me texas reliability entity urquhot is operational. They oversee the function of the grid and and the lines of the shell the frequencies that we talked about the making of frequencies curate. Yeah the security okay. When we say security were we. We mean voltage right And this Security can mean physical security in some senses but farming cybersecurity too. Yeah there are cyber security. There's a big time from the colonial thing that happened last week two weeks ago. Because that's a big thing q. On national media so not to get into that but yes so so they oversee security ker and actually transmission making sure that the lines are power in that threshold of sixty hertz. Blocked about security again in. This case is voltage. So arcot is monitoring frequency of the system. But they're also monitoring transmission voltage voltages on the transmission system all around the interconnection yasa and their primary function is reliability. That you know in the name now. To achieve reliability arcot now uses a nodal market system. You know again will crawl down. That loop will get more into that you know i would love to get some feedback from your audience on their opinions of of how it could work better because the market like i said in the first episode the market is intended to shore up the you know the the conditions that humans would exploit right but again bad input output arcot is ultimately responsible for keeping everything between the ditches as it applies to operational conditions right tre texas reliability entity is over the legality side of things. They're making their purposes. Essentially is to make sure that everyone is in compliance with north american electrical reliability corporation standards which Best what you said you know. North america thing yes. It is a north america. Thank canada the us. Mexico all fall under must call nurse right all follow guidelines and standards so tr. He is supposed to be the ones who are ensuring an enforcing than all. Yes on compliance of nurk. Virk you see all these things but again we're cronyism starts to come in because within our industry there's a whole lot of back and forth. There's a whole lot of. I'm gonna go work over here for a couple of years five six years. Now i'm going to go over here right Ida good friend. That was critical in shoring up. Our cots black start program can sure that you know we could actually put this system back together and he brought up so many things that were just mind blowing and i recall i remember one day. I was actually at a at a function for nurk for a working group. I was on at the time. Got a call from said..
Oil and Gas Startups Podcast
"ercot" Discussed on Oil and Gas Startups Podcast
"In a manner that showed there was a large disconnect. Between what the puc thought they were supposed to do and what the puc was actually tapped to do. She made comments at the time that had professionals in the industry just their jaws on the floor not having oversight of arcot being one of them something to that effect that wasn't direct quote She made comments to make it sound. As if the puc had no oversight of our cotton which is an insane and incredibly wrong. Why are you. Why are you here then. Essentially yeah right out. They you know they are involved in the retail side They're supposed to be overseeing retail transactions and things of that nature but again arcot does retail settlements and has oversight of the transmission distribution service providers that facilitate the retail transaction. So it's all interwoven right. And then so. She resigned the other to resign. Well governor. Abbot decided to take. And i'd have to look up his name but take some one who's crony of his with no energy experience whatsoever and make them the chair of the puc while not long after that happened it leaked out that he had made comments about and again. Not i'm i could look it up here shortly. A fee why while you're formulating question but what it alluded to was that the puc would protect these external investors through all of this right not not the people of texas with the the external investment vested interests. Yes which are which are what the power producers of power producers qualify scheduling entities. I mean they're they're so many factors again. We'll get to that and we talk about. The third thing is actually market operation but on the political side. There's been so much cronyism in that. Why would abbott put him in charge with zero experience right and then so when that comes out there's pressure. Hey okay you know you gotta go. You're done you need to resign. Make him resign immediately. They said well. You're going to resign when we find somebody to put in fleiss ochre so the the the replacement was so politically i guess. Toxic added that stuff leisure. Yeah 'cause he's looking after you know the this is this is everything's wrong with bigger government right. Yeah whether or ds are in power everything that's wrong with it. Is that somebody who access is always getting a sweetheart. Deal your a handful of folks so with that being said the it do in. Your mind's eye is the cronyism Somewhat getting address. If i if only because you know from good reporting where we're finding these things out is. I mean obviously avid scan the governor for the foreseeable future Any might even get reelected. But i don't know. I'm not making that call. Yeah who knows Governors usually get elected for a few terms and grow. But so.
Oil and Gas Startups Podcast
"ercot" Discussed on Oil and Gas Startups Podcast
"We have to be very. We have to be very thoughtful about how we handle. The situation moving forward we can't just over incentivize wind and solar. Because you know when they don't work they don't work then again. The same thing can be said for natural gas. And we're gonna talk about that in a little while. Actually actually we'll get to that Because in my opinion kind of bringing things back around to to where we were gone think there were three major problems. Yeah legit have contributed to where we were During the polar vortex but they also contributed to the same issues in january of twenty eighteen. They contributed to the same issues in the summer of twenty nine thousand nine. They contributed like i said during the polar vortex they'll contribute the summer and a lot of that real quick. What's her rehash. Those are the folks legislates them and kinda from beginning to end as you see it because this is where we'll get into the weeds a little bit and then bring it full circle. I'm gonna put you in the hot seat and be like okay. You run the show man. Yeah i thought experiment. I gotcha good. Let's do it okay. But but we'll get there but okay. So let's rehash the three main points that not only contribute to the debacle. That happened in february this past year february last but also. Let's talk about what happened. Or let's talk about the factors that those same factors are going to rear their head again in a heatwave direct for sure area has as its power consumption whether it's for heating or for cooling. It's just power consumption absolutely. So let's let's let's rehash those in in your mind's eye the most important and the other ones if they're supporting or thrall equally important you. Can you can speak to them so really. Just a call amount and to me. It's a three headed dragon. Right burst one is political oversight. Yeah texas public. Utility commission public utility commission texas. I'm sorry i am actually looking at disbanding the puc. But i mean there's just been so much and i'm really honestly glad it came to light for a change because it's that a lot of us within the industry of seen for years on end You know keep it just in this in this year right. Deanna bennett who I'm sorry deanna. Walker the n walker. My bad deanne walker. Who was the chairperson of the puc. At the time of the polar vortex..
Oil and Gas Startups Podcast
"ercot" Discussed on Oil and Gas Startups Podcast
"Real viable mechanism to to work to help people. The other side is why. Do you think that demand or the system is going to get stressed again because the this summer doesn't necessarily look like it's going to be thirty eight days of one hundred and five like it wasn't twenty eleven and that's probably the last time we talked about. That was the last time. So is it. Demand in general demand coming from people moving in from other states and people establishing businesses. And you know in texas whether it's you know medium industrial regular commercial they unless they have their own power generation in their compound in some new. They're called private utility networks They they get their energy from arcot or from the grid. So another offshoot or tangent. This crazy hot real estate market where people are buying an absorbent prices and buying new houses new instructions. Are you telling me that. Were overbuilding to the in the sense that we're building houses and the actual supply to feed. These houses isn't necessarily bear. That's exactly what i'm telling you interesting. We're building lots of houses. Lots of business. We're not building anything other than wind and solar to support them You know we when we moved to hutto right. I don't know if you remember when we moved up towards austria years ago right and small town hutto great place right around the time we moved back here. They started construction on the largest indoor waterpark in the country about five miles from our house. You don't think that's going to be a massive consumer. Yeah especially in the summer. It's going to be cool. That or whatever i don't know if you've cool yeah you have to cool it because it'd be like a a humid. Hot mess probably. Yeah well not just that you know all the motors that are involved with like wave pools pushing water. The motor load is one of the biggest most door. Which i don't understand but i okay so it's just things like that and it's happening all over the state but our ability to generate is only coming in solar and wind so really their only reliable in small timeframes. You know i mean you can almost set your watch by texas Wind speeds. You know you wanna win. Picks up when it goes down. And then sometimes there's days where it doesn't so now you have using massive deficiency and what you were planning and actually it. We're expecting it just didn't happen that day. Exactly even if it does happen that they ninety nine ninety five percent ninety two percent of the dog. Yeah well i mean. That's what happens is march or april two. I can't remember that notice than you know. It was kind of out of the blue. Hey we're going to have to. We might have to go back into a conservation. Why because there was almost five thousand megawatt deficiency in the wind forecast meaning. They thought it was going to be up here but it was actually way down here. I don't know if it was exactly five thousand. But i remember talking with a friend of mine and seeing that it was it was huge. It was big right. And i think you know moving forward. I'm not saying. Don't let people in texas foul means because you know i'm not from texas originally. Yeah.
Talk Radio 1190 KFXR
"ercot" Discussed on Talk Radio 1190 KFXR
"Bullock Fakes Fires three Pointer tucks it in. Crazy bullet from town to town hall, courtesy of MSG. Reggie Bullock drains a three ball. The ice and for the Knicks is they scored their first playoff victory since 2013 being the Atlanta Hawks 101 to 92 to tie their series up at one all. Donovan Mitchell with 25 points in his return for the Utah Jazz as they down the Memphis Grizzlies, 1 41 to 1 29 even that serious up at one game apiece and the Philadelphia 76 years clobber the Washington Wizards won 22 95 for the two Nothing serious lead Russell Westbrook exiting with an injury, but the wizard's guard getting popcorn dumped on him in the tunnel. Ah fan escorted out of Wells Fargo Center by security. Matt Napolitano, Fox names on the ICE, The Islanders and Lightning advanced to round two of the NHL's playoffs. New York Closed out Pittsburgh 53. Tampa Bay Shut out Florida for nothing to win that series. Minnesota forced a game seven with Vegas. Winning three Nothing. I'm Dave Anthony. This is Fox News. A man is barricaded inside a home northwest of Dallas. After shooting three police officers here Sergeant Jason Rachel with the flower mound Police department. One of the officers was treated on scene by our flower mound, medics. In Lewisville. Medics also and was released. He's actually still on scene working, one officer was transported to one of our local hospitals. The other wish. Trance transported to another one has been released. The shooting happened last night is officers responded to calls about a suicidal man. Police are still trying to make contact with the gunmen. ERCOT conducted a test to make sure it's emergency conditions warning system is working as intended. Ahead of the summer season. A report assessing power grids across the country, said Texas is at an enhanced risk for a power emergency. But energy experts of the power grid is ready as caught. Officials have increased power reserve margins. I'm charity McCurdy Everything's bigger in Texas, you know, engage people in talking about this, including our mouths. Talk radio 11 90, D FW talks here. From Washington to Wall Street covering the World. America's first news with that grave is on the air. And get Thursday morning. America's first news continues its the 27th day of May six minutes past the hour and authorities have I deed eight people killed Wednesday.
WBAP 820AM
"ercot" Discussed on WBAP 820AM
"Yes. All right, says during February the Isis so storm we didn't have our output from the wind farms and or from the solar on windy days, output is is as a real plus, We should not have a problem like we had in February. Mills won't be frozen. You'll also you won't have those photos sells iced over, said Should we rely on them? No. They should be subsidiaries to gas and coal plants, but they shouldn't fail in the summer. All right, Chris. Thank you very much. The nice thing about voting low is that we're pleasantly surprised when my proven wrong right exactly. And it's your history of the prop. Playing. The price is right at home, you know? Yeah, That's right. You never met was going over. Yeah, we're just going over. Stay, Lord Avoid disappointment. Exactly. Holly's in here says are the 70 offline plants back up and running yet. I think many of those are like like, she says, Fire him up. Get him going. Why not Mike's and here. You said his level of confidence is three. He says lives are always more important than a little air pollution. Lives or Oh, um, trying to figure that out with meaning. They open up the lives of more bored. Yeah, the oil gas. All right, Here's here's a question from Gary or Ah, point made by Gary and tell me if this is true. Mm hmm. The problem that ERCOT is experiencing. Is the growing use of electric cars. On top of the growing Texas population. Well, that's common sense thinking you got to think that he has. He has some kind of a point there, right? You know, you gotta plug those cars in and there is no life for cars are vehicles of some short. They're everywhere now. I know. I know. I see him all the time. Yeah, all the time. And housing starts are up. So you've got more houses. You got the population moving in. You get all that happening. And on top of that you got all these cars now that you have to play games. Okay With that being said her cut still needs to plan for all of that. I'm with you. That's why if the peak is 77 than playing for 85 And it doesn't think I was dead. Serious, baby. The head of her cot could live here in Texas. Yeah, I'm with you. Because did we have, like the head of the board lived in Michigan or a couple of board members for from Michigan? Yeah. I don't know. I don't really think that the anybody on the board is the one that's gonna go down through a switch when they don't, but they probably don't know how the grid worked technically, anyway. But still right, But I'm with Val decision when we need Texans running running the Texas greatest, You know, they need to be here when it's 110 degrees and in Houston and, uh, realizing what they're up against, right, I'm winning. 7 41, WB AP Coming up next town in a non partisan race, we've had a very partisan endorsement. We'll get into that happening and also tell you a little something that's gonna happen next Friday. So weak from today this is big, Big announcement here. W b A P. Okay. In fact, I'm what I'm just going to say this. What is it? What does shocked that We were able to pull this off? Judgment. What does the announcement I want to know. All right, we're gonna tell you the soft serve ice cream machine. No, no, no, no, no, no bigger than that. Do that After we check traffic first. Here's money. Money? No, it's money. He's got sorry. Michael Scott eastbound north of I 20 We've got that ongoing construction. It's up all the time, and it really backs things up.
Newsradio 1200 WOAI
"ercot" Discussed on Newsradio 1200 WOAI
"Same day appointments with Walt Kin's allowed it select locations. Sam's Club and Wal Mart are also offering vaccinations with no appointment or membership necessary. Charity. McCurdy NEWS radio 1200 w O A I. The Texas House is giving final approval to a fetal heartbeat. Abortion bill. Lawmakers approved the measure on a mostly party line vote this morning but made some changes. At the bill now heads back to the Texas Senate Governor Greg Abbott says he would sign it at the Electric Reliability Council of Texas is confident there will be low risk to emergency power conditions this summer. And that's despite projected record demand. ERCOT release their summer forecast today, saying peak summer demand will probably be over 77,000 megawatts. A grid operator. Officials say their reserves will be just under 16%. Should that happen are cut plans to visit some power plants to make sure they're ready for these summer weather. Defense Secretary Lloyd Austin says the gradual U. S troop withdrawal from Afghanistan's right on track, He said the Pentagon aims to ensure that withdrawal is deliberate, orderly and safe at the U. S troop presence in the ward. Coordination numbered around 3000 when that withdrawal started, and President Biden wants it to be done by early September, two students and a custodian have been heard after being shot at a middle school and Rigby, Idaho this morning at the injuries do not appear to be life threatening, according to the East Idaho News. The suspect is a student who is in custody. Officials say they believe there is no further threat. Get the latest news anytime anywhere. Just tell your voice activated. Smart device to play news radio 1200 w O a I on I Heart radio. I'm Carrie Long Qi News Radio 1200 W Away. I When it comes to your yard. Why waste time? I just don't have time. I don't have enough time. If you want your plants to crawl just talked to Bill and David, But I figured I'd call you the lawn and garden Show Saturday morning in seven fun Use radio 1200 W away I This report is sponsored by.
KTRH
"ercot" Discussed on KTRH
"Morning here, sheriff No 6 52 on NewsRadio 7 40 ktrh are headlines are sponsored by Sunflower Garage flooring Facebook. They refused to lift the ban on President Trump's Facebook account, and therefore more Republicans now calling for these big tech monopolies with all this power. To be broken up an alarming report about ERCOT and the Texas Electric grid this summer, ERCOT says. Well, if we have a hot, dry summer like we did in 2011 We got through that without losing power. But they say this time we will. I mean, they're saying as many as 2.8 million homes could be in the dark. And the heat, you know, more appropriate get more like California every day. Well, yeah, That's because half the board came from there or Germany and they gave his 25% unreliable. Sun and wind energy. They're not addressing that they're just warning us, huh? That's what the Legislature needs to be taking closer Look at bidding now underway for the first space tourism trip in July, the Blue Origin rocket company offering one seat To the winner of a five week online auction. You will be joining astronauts on a ride past the edge of space. Yeah, I just outside Earth's atmosphere. Least two more flights gonna happen later this year. This is not space Six. This is blue arrived in origin. Sorry. More of these stories right now. A ktrh dot com. Our next news update will be at the top of the hour. Happening right now, keeping an eye on this Because this matters this'd use radio 7 14 provided updates. Ktrh. The people.
Sean Hannity
Texas AG says retroactive power-price cut okay, passes constitutional code
"Attorney General Ken Paxton is giving the State Public Utilities Commission permission to retroactively adjust electricity prices. He published an opinion today saying that such a move would be constitutional based on the state Utilities code. Texas Senate passed a bill this week demanding the PUC redo prices after last month's winter storms and independent market monitor found that ERCOT artificially kept prices high during the storm and overbilled energy companies afterward.
Chris Krok
Texas Power Company Behind Massive Electricity Bills Goes Bankrupt
"Electricity bills is seeking bankruptcy. The company that drew attention after sending huge electricity bills to customers after last month's blackout, causing winter storms in Texas as filed for bankruptcy protection, gritty energy soul power to consumers at wholesale prices. That's a $10 monthly fee. It's rate skyrocketed during the February deep freeze when state grid operators raised hotel prices. The company blamed the situation on the Electric Reliability Council of Texas, which operates the power grid and most of the state. Grady said ERCOT kept the wholesale prices at the state's legal cap of $9000 per megawatt hour. And they did that for too long.
WBAP Morning News
Dallas-area city of Denton files lawsuit against ERCOT
"A lawsuit against ERCOT. Ryan Adams, with the city says ERCOT is implementing something called up lift. That means it's shifting the cost of electricity that wasn't paid by some markets. Two others, including dental, municipal electric city views, especially the payment of these costs for other utilities as unconstitutional. Gifting of public funds judge extended a temporary restraining order in favor of the city until the end of April. Adam says that'll buy more time to protect the financial assets of the city and its ratepayers from improper use. The city of
Houston's Morning News
ERCOT overcharged for electricity in Texas by $16 billion during freeze
"At stock index futures ahead of that. Dow futures of more than 100 points a firm hired to monitor Texas's power market, said ERCOT overpriced electricity over two days during last month's energy crisis, resulting in $16 billion in overcharges. In an unusual move, the firm recommended in the letter to
Charlie Parker
ERCOT CEO Refuses $800K Payout Following Firing
"W. Away, I fired CEO of the Electric Reliability Council of Texas as he won't seek or accept his severance pay. Under his contract, Bill Magnus would have been owed more than $800,000 or one year of his base salary. Urquhart's board voted Wednesday to give Magnus a 60 day termination notice or cots been heavily criticized recently for failure to prepare and respond properly to the winter storm that knocked out electric power for millions of Texans and caused dozens of deaths and it turns out ERCOT kept market prices for power high for nearly two more days after widespread outages ended on February 17th. Resulting in $16 billion in additional cost to Texas power companies. The independent market Monitor for the Public Utility Commission of Texas was which oversees ERCOT wrote in a letter that ERCOT should have reset the prices the following day and recommends ERCOT retroactively a men
Coast to Coast AM with George Noory
Houston Senator John Whitmire warn Texans may switch to new electric providers amid ERCOT woes
"John Whitmire, Whitmire, warning warning many many Texans Texans may soon may be soon switched be switched to do electric to do electric providers providers is ERCOT is ERCOT his own his nearly own nearly $2 $2 billion billion from power from power companies, companies, many of many whom of whom can't can't pay pay in large in large numbers. numbers. For then, For about then, about two weeks. two weeks. I think I think you'll see you'll see large large numbers numbers going bankrupt. going bankrupt. To read To negotiate read negotiate their debt their debt or contest or contest today today blamed blamed rapid rapid price price fluctuations fluctuations during last during last month's month's ice ice storms. storms. But But an independent an independent review review show that show ER that Kant ER Kant left left those high those prices high prices in place in place 32 32 hours hours too long, too long, costing costing providers providers $16 $16 billion billion total. total. As a result, As a result, Presence Presence Electric Electric Power Power Co. Up Co. already Up already has filed has filed for bankruptcy, for bankruptcy, many many others others could soon could follow. soon follow. Department Department of
Coast to Coast AM with George Noory
Houston senator warns of switch to new electric providers as ERCOT is owed billions
"Whitmire, warning many Texans may soon be switched to do electric providers is ERCOT his own nearly $2 billion from power companies, many of whom can't pay in large numbers. For then, about two weeks. I think you'll see large numbers going bankrupt. To read negotiate their debt or contest today blamed rapid price fluctuations during last month's ice storms. But an independent review show that ER Kant left those high prices in place 32 hours too long, costing providers $16 billion total. As a result, Presence Electric Power Co. Up already has filed for bankruptcy, many others could soon follow. Department
All Things Considered
Oldest Texas Electricity Co-Op Goes Bust After $2 Billion Bill
"11 bankruptcy protection today. Citing they said a nearly $2 billion bill from the state's electricity grid operator following the storm. Marketplaces and you'll reports. Those things can happen when you let the market dictate prices on a grid that's not connected to the rest of the country. Raza's Electric is a cooperative that pays the grid operator to get electricity to hundreds of thousands of Texans. The grid operator is called ERCOT there like a toll road for the electricity system. Costas America teaches environmental engineering at Carnegie Mellon, he says in the February deep freeze, brasses Electric ran up bills many times higher than they normally be. The prices are allowed through the Texas Electricity system to rise when demand is really high, and supply is low. That's kind of the theory of all this the theory behind the largely deregulated market, a system that many are now questioning. David Spence teaches energy law of the University of Texas, he says. In fairness, I don't know that anyone ever anticipated an event like this when they were designing that system. Now, this seems like a black swan event in that sense, But a similar event did hit Texas 10 years ago, and lawmakers decided not to winterize Emily Groubert and George Attack says there's an opportunity again to rethink infrastructure more generally. I think we need to be really, really thoughtful about when it is actually logical to spend a little bit more money here to make sure that these systems actually do what we want them to do for the next several decades. Brasses Electric said before the freeze, it was financially robust. Its bankruptcy family could be an ominous sign. As other Texas power providers success the storm's damage in Austin, I made a Euler for marketplace.
Charlie Parker
Texas electric cooperative files for bankruptcy after massive storm
"The oldest and biggest electric power co op in Texas is declaring bankruptcy because of a massive bill from the States grid Operator Process. Electric Power Cooperative, based in Waco, filed for bankruptcy protection after getting a bill for $1.8 billion from ERCOT. Brazos is one of dozens of electricity providers facing huge charges from last month's brutal cold snap. Or got pushed up spot market rates for power and piled on service fees that were 500 times. The usual
Joe Pags
Griddy banned from Texas power market after failing to make payments
"A Texas energy company has been banned for being a part of the state's power market. Yesterday. ERCOT revoking Grady's rights to enter the state's electric market because of a payment breach. Grittiest previously said it would challenge the price is set by ERCOT during the crisis. I'm Sally Adams from
KOGO Weekend News Edition
Texas grid users failed to pay $2 billion in charges
"Financial fall out stemming from the devastating winter weather in Texas is starting to be realized. The operator of the Texas power grid, ERCOT says $2 billion in charges for power and services went unpaid. Meantime, ERCOT is shifting customers from one power provider toe. Others. Gritty energy has lost access to the power grid after charging customers an exorbitant amount for energy during the deadly snap of
Our American Stories
Houston's Harris County is looking into leaving the Texas power grid after recent widespread power failures
"But Harris County tried to separate itself from the Texas power grid. But tomorrow's 10 A.m. Harris County Commissioners Court meeting. Removing the county from ERCOT is on the agenda Precinct to Commissioner Adrian Garcia said after last week's massive power failures. He wants to look at other options to keep residents safe. It's a virtual meeting in the public is invited to attend.
KLIF 570 AM
"ercot" Discussed on KLIF 570 AM
"Degrees with 5 70 Kayla half news and information. I'm Chad Dixon. State leaders are accusing the Electric Reliability Council of Texas of downplaying the threat of last week's winter storm, leading to forced outages on an overwhelmed power grid. During the legislative hearing today in Austin, Curt Morgan with Vista Corp said ER cots, modeling wasn't sufficient. I don't think that they had done the modeling to show that what was coming their way was greater than even their stress case, so they do stress it But again, it's only as good as the data that you feed into the model. And if you're using a model that goes back 20 years, you're not gonna pick up that kind of event. Industry leaders are also concerned that ERCOT wasn't transparent about what the great could handle. In other news, state leaders say continued accessibility to covert 19 vaccine are paying off, according to Governor Abbott, Texas has received more than a million doses of vaccine this week, which is the highest weekly amount to date. If that pace continues, The governor says the state's vaccine allocation panel could soon expand eligibility for the shots beyond just the most vulnerable and residents 65 older, very soon being defined. Sometime in March. The governor also says that with the arrival of more doses and the downward trend in cases, more statewide restrictions could be lifted relatively soon. Clayton level K L I f new news Information Time is three or four. Let's get a look A right now. Traffic South bound dollars North tollway just before Alfa Road, There's an accident blocking the right lane. Traffic is jammed solid from Arapaho. LME. Southside north on Highway 67.
San Diego's Morning News with Ted and LaDona
Gov. Abbott pledges ‘overhaul’ at ERCOT and stabilization of Texas power grid
"Of Texas vowing to overhaul the state's electric grid operator after days of extreme winter weather crippled power for million's no power meant no heat and in some cases, no water for days. Governor Greg Abbott says the manager of power in the state came up way short. Cut repeatedly assured the state and the public. ERCOT was prepared. Those assurances turned out. To be false. He blamed power suppliers of all sources, but also said it was outrageous. That electric operator sent sky high utility bills to customers because demand soared. The state is Already investigating multiple electric providers about these spikes, But utility companies have said they're just following orders from utility regulators.
Charlie Parker
4 minutes, 37 seconds: That's how close Texas came to complete grid failure
"Texas mayors are demanding answers from the head of the state's power grid. San Antonio Mayor Ron Nirenberg says the state went in the middle of the night from barely a warning about power problems. To a critical level that required blackouts. The mayor sent a letter calling out the protocols and policies set forth by her cot Today, the head of the power grid will appear before several state legislative hearings, which are looking for answers as well. During an emergency board meeting early Wednesday, ERCOT officials revealed they were four minutes and 37 seconds away from a complete blackout had they not initiated the widespread controlled outages. Meantime,
The Dan Proft Show
5 board members resign from Texas power grid operator after millions lose power from winter storm
"Resignations atop board leaders of the embattled Texas power grid operator. Have taken the fact five board members of the Electric Reliability Council of Texas, known as ERCOT, resigned following outrage after more than four million customers lost electricity last week during a deadly winter storm. Texas Governor Greg Abbott welcome the resignations, saying the lack of preparedness and transparency at her cat is unacceptable. On Thursday, Texas lawmakers are expected to sharply question grid managers and energy officials about the failures during hearings at the state
KZSC 88.1 FM Santa Cruz
"ercot" Discussed on KZSC 88.1 FM Santa Cruz
"All six board members of the Texas power grid operator called ERCOT. Have resigned. The announcement follows outrage over more than four million customers losing their power during a deadly winter freeze last week and estimated three dozen people died in Texas. All of the board directors stepping down live outside of the state. The resignations are effective today. Tomorrow committees and both the Texas House and Senate will begin investigations into what caused millions of people to lose power during the crippling winter storm last week. And a state religious group is urging residents to participate in the proceedings, Roz Brown reports. Be more head with Texas Impact says those affected by the storm need to stop asking whose fault the crisis was and start asking how to prevent such failures in the future, she says, much like Hurricane Harvey State lawmakers had plenty of warning about extreme weather events but have repeatedly rejected opportunities to prepare. We've had seven major disaster declarations and Texas just since Harvey and sooner or later faith community and other responders have to say failure to plan on your power. Does not constitute an emergency on our part, Mayors in 16, Texas cities have sent a letter to the president and CEO of the Energy Reliability Council of Texas or ERCOT. The state's electric grid operator, demanding he cooperate with investigations into what left millions without power. Moorehead says it's easy to point the finger at her cot. But she wants voters to contact lawmakers with concerns since they're the ones who approved the policies that left homes and businesses vulnerable to the catastrophe. She says. Texans of Faith have been extremely generous and providing funds to their congregations during the pandemic, But many are still helping with the cleanup from Hurricane Harvey in the same communities hit again by the Winter storm. What happened in Texas last week is a systems problem, and it needs a system solution. Faith communities can be depended on for charity, but it takes government to reform major systems. Communities and family members of people who died in the outages have already filed lawsuits against her cot on Lee invited testimony will be allowed at Thursday's hearings, which began at 9 A.m.. But Texans will be allowed to submit written statements to the House Elektronik Lee through a portal during the meeting. As of Tuesday, the Senate had not provided information on how to
Pacifica Evening News
6 board members resign from Texas power grid operator after millions lose power
"All six board members of the Texas power grid operator called ERCOT. Have resigned. The announcement follows outrage over more than four million customers losing their power during a deadly winter freeze last week and estimated three dozen people died in Texas. All of the board directors stepping down live outside of the state. The resignations are effective today. Tomorrow committees and both the Texas House and Senate will begin investigations into what caused millions of people to lose power during the crippling winter storm last week. And a state religious group is urging residents to participate in the proceedings, Roz Brown reports. Be more head with Texas Impact says those affected by the storm need to stop asking whose fault the crisis was and start asking how to prevent such failures in the future, she says, much like Hurricane Harvey State lawmakers had plenty of warning about extreme weather events but have repeatedly rejected opportunities to prepare. We've had seven major disaster declarations and Texas just since Harvey and sooner or later faith community and other responders have to say failure to plan on your power. Does not constitute an emergency on our part, Mayors in 16, Texas cities have sent a letter to the president and CEO of the Energy Reliability Council of Texas or ERCOT. The state's electric grid operator, demanding he cooperate with investigations into what left millions without power. Moorehead says it's easy to point the finger at her cot. But she wants voters to contact lawmakers with concerns since they're the ones who approved the policies that left homes and businesses vulnerable to the catastrophe. She says. Texans of Faith have been extremely generous and providing funds to their congregations during the pandemic, But many are still helping with the cleanup from Hurricane Harvey in the same communities hit again by the Winter storm. What happened in Texas last week is a systems problem, and it needs a system solution. Faith communities can be depended on for charity, but it takes government to reform major systems. Communities and family members of people who died in the outages have already filed lawsuits against her cot on Lee invited testimony will be allowed at Thursday's hearings, which began at 9 A.m.. But Texans will be allowed to submit written statements to the House Elektronik Lee through a portal during the meeting. As of Tuesday, the Senate had not provided information on how to
All Things Considered
Thousands In Texas Still Don't Have Power As Lawmakers Investigate ERCOT
"Last week's mass power failure continues, and so does the political fall out. Have been resignations from the body that oversees the grid and lawmakers open their investigations tomorrow. Joining us now is Dominic Anthony Walsh of Texas. Public Radio. Hi there. Hi. First. How's the recovery going? How are people doing? So the majority of the state does have power and water back. But there are still thousands of residents, especially in the Texas Hill country, for example, who don't have power and their electric provider isn't sure when the power will be back. So for thousands of people of this crisis has stretched on for more than a week. And you know bodies are still being found. Local officials are saying it will be weeks till we know the full number of people who died in this disaster, but it's already in the dozens and is expected to climb to well over 100. And these are people who couldn't power medical equipment people who froze to death in their homes or in their cars, as well as people without housing, who froze to death outdoors, experiencing the worst of the conditions. Wow. So in the face of that staggering death toll, the hearings begin tomorrow and the actions of ERCOT, the body that manages the Texas grid are likely to be front and center. What do you expect to come up? Is gonna be a lot. But one key question. Why wasn't the power grid ready? But ERCOT, which again is at the center of all this doesn't actually own the physical infrastructure that provides power. Rather Okay, just oversees the flow of electricity. Here's Peter Crampton, now former member of their cots board. He spoke at his final board meeting earlier today. Cutlets flying a 7 47. It had not one but two engines experience catastrophic failure. And flew the damage playing for 103 hours before safely landing in the Hudson. In my mind the men and women in their car control room here out. So in this analogy, those engines that blew up could be power generating units owned by public and private power companies, not ERCOT again. Haircuts rule was to do an emergency landing. That's the order of so called Syria's of controlled blackouts. So that and even worse crash when it happened like the entire grid going off line, which, according to Urquhart, could take a weeks or months to repair. So far, Kat is likely to argue that they were just doing the best they could with a bad situation. Are there other places Lawmakers might look to hold people accountable. Absolutely. First, there is the Public Utility Commission of Texas. It oversees our cod and has a three member board appointed by Governor Greg Abbott. Second, there's the railroad Commission, which actually oversees the natural gas sector, not railroads and the natural gas sector failed to provide enough power during this crisis. Those two agencies, the Public Utility Commission and the railroad Commission have regulatory power. ERCOT does not. And of course, there is the state Legislature itself, which actually makes the laws that these agencies are supposed to enforce. One proposal mandate that all plants whether as against cold weather, and there's a debate around that who pays for the weatherization taxpayers or the company's And finally, people are already resigning. Tell us about why So Peter, cramped in who we heard earlier, along with a few other board members resigned after taking heat that because they didn't live in the state now did them living out of the state caused these blackouts. No, but Governor Greg Abbott was quick to welcome The news. In the short term market officials will face hearing from the state Legislature tomorrow, and there will be tough questions for them. But again, Ultimately there are other bodies that hold most of the power is actually mandate changes after all of this.
KTRH
"ercot" Discussed on KTRH
"Change over to rain as we head through the morning Wednesday, tapering off into the afternoon. Significant icing possible in areas especially north. And west of downtown Houston. Highs in the upper thirties. Wednesday cloudy mid thirties. Thursday, I'm meteorologist Ken Bone from the Weather Channel. Right now it's cloudy and 34 here. A the top tanks defenders 24 hour Weather center. Ktrh news time 12 or what? Our top story. Of course, Power remains critical issue in and around Houston's to everyone had the state level to her cot to our providers that we need to get this power restored A S A P Mayor Sylvester Turner warning. We are preparing for another mix of precipitation. It's actually Happening now, in some areas, freezing temperatures overnight. It is simply unacceptable at this point for people to be without power. The code is time in our Fisher in the last 30 years. CENTERPOINT reports, more than half of their customers remain without power At this point, CenterPoint senior VP Kenneth Coleman says that they're trying to get power back to homes as soon as possible and to be ready for the next storm. We have a distribution system they'll be ready to go today. For the next storm, And as soon as we get the generation back on across the greater Houston area, then you will see the power delivered to the customers very efficiently, very safely. It's quickly as we can. Meanwhile, ERCOT says that those rolling blackouts will continue.
KTRH
"ercot" Discussed on KTRH
"24 hour Traffic center. Freezing rain expectedly tonight We've a winter storm warning this evening through 6 A.m. Thursday, increasing clouds and cold out there. Look for freezing rain late tonight temperatures into the mid of her twenties. It'll change over to rain as we head through the morning on Wednesday, tapering off into the afternoon Cold Upper thirties. Body in mid thirties. Thursday. I'm meteorologist Ken Boon from the Weather Channel in Conroe was 32 degrees back in Houston. 33 degrees of Ktrh Top Tax Defenders 24 Hour Weather Center. Times. Now four Oh, one. Our top story. State mandated blackouts have left about two million Texans without power during the coldest weather the state has seen in decades. More than half of those homes left in the dark and colder right now in the Houston area. So far, the cold temperatures and icy conditions are believed to be the cause of 10 deaths in Southeast Texas. Texas Governor Greg Abbott wants there to be reform on how the state's electric grid is run. He says the Texas Legislature needs to investigate the Electric Reliability Council of Texas and its response to the freezing temperatures and severe winter weather. He's hoping any review will come up with long term solutions to the problem. Texas House Speaker Dade Failing has already called for two House committees to interview ERCOT officials on the grid. In the meantime, the governor is asking state lawmakers to investigate how so many Texans were left out in the cold to make sure that ERCOT is investigated to determine what their decision making process Woz that led to the shortcomings. But also we have deployed Texas National Guard to Houston area to assist with anybody to make sure that they're gonna be in a safe, warm environment as they wait for the power to come back home. I The governor says those National Guard troops were already in Houston, helping with road closures and stranded motorists. Organization in charge of power in Texas. ERCOT is.
KTRH
"ercot" Discussed on KTRH
"Demand record for the ERCOT system, and so far they're not asking for any conservation measures. Six person dad after a massive crash on a major North Texas interstate forward, fire chief Jim Davis says, said some point some of the bodies and to be left behind in the wreckage for a while big impact for community. And we want to make sure that we speak from the heart to the folks of this community that we're with them, and our thoughts and prayers are with them and their families. The pile of involved over 130 vehicles yesterday morning on I 35 West. A total of 65 people got treatment for injuries sustained in that collision. Freezing rain and black ice are being blamed for the crash. Court records showed 27 Harris County murder cases over the last two years involved a suspect out of jail on two or more bonds At the time. Harris County Democrat Rodney Ellis has been an advocate of bail reform in the county meant to correct supposed inequities within the criminal justice system. However, nearly half of the burners by those bonded out happened in Ellis is precinct crime victims. Politicians, advocacy groups, the police now complaining about the dangers of lenient And repeated bonds. Nick Cranky Bitch. NewsRadio, 7 40 ktrh the number of covert cases in Harris County dropping sharply this week, there's County Health department announced his seven day average of only 965 people. A T 70 average has been over 1000 since December. It was actually 2400 about a week ago. Ktrh news time 303 Day three of the Senate impeachment trial of former President Donald Trump is over. Democrats yesterday, telling senators the protesters who breached the U. S Capitol did so on the orders of the former president. Videos featured supporters of former president Trump inside the capital, they say at the invitation of the president, the president told them To be there, and so they actually believed they would face no punishment. Colorado Democrat Dianne to get says weeks of calls to stop the steal and fight like hell by Trump sent a clear message. California Democrat Ted Lieu says the president showed no remorse. He does not say the one sentence that would stop future political violence. The election was not stolen. The former president's defense begins presenting its rebuttal Friday on Capitol Hill. Jared Halpern Fox News make it four losses in a row over the struggling Houston Rockets as they fell to the heat that Toyota Center last night. What no 1 to 94, the Rockets traveling New York to take on the Knicks Saturday. Our next updates at 3 30 breaking information as it happens Time now for another hour of coast to coast Am with George Norrie. I'm Eric Sharpe on NewsRadio, 7 40 ktrh..