Bill > SB2627

This bill establishes the Texas Energy Fund, a special fund in the state treasury to be administered by the Public Utility Commission of Texas (PUCT). The fund will provide grants for transmission and distribution infrastructure and electric generating facilities outside the ERCOT power region, as well as loans to finance upgrades or construction of new dispatchable electric generating facilities within the ERCOT power region. The bill also creates a completion bonus grant program for the construction of new dispatchable electric generating facilities in ERCOT. The fund will be managed by the Texas Treasury Safekeeping Trust Company, and an advisory committee will provide oversight and recommendations to the PUCT. The bill also expedites the interconnection and permitting processes for facilities and backup power packages funded through the program.