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Deregulation Of The Texas Electricity Market
The Texas electricity market is deregulated, meaning that there is competition in the generation and distribution of electricity. Power generators in the Texas Interconnection, managed by the Electric Reliability Council of Texas, participate in an energy-only electricity market and are compensated only for the electricity they produce. The wholesale generation market was deregulated in 1995 and the distribution market in 1999, with Texas Senate Bill 7. This replaced the prior system in which power was generated and consumed locally by the same utility with one in which retail providers contracted with generators across the state.Dylan BaddourTexas' deregulated electricity market, explained ''Houston Chronicle'' (June 8, 2016). As a result, 85% of Texas power consumers (those served by a company not owned by a municipality or a utility cooperative) could choose their electricity service from a variety of retail electric providers (REPs), including the incumbent utility. The incumb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere. It is the repeal of governmental regulation of the economy. It became common in advanced industrial economies in the 1970s and 1980s, as a result of new trends in economic thinking about the inefficiencies of government regulation, and the risk that regulatory agencies would be controlled by the regulated industry to its benefit, and thereby hurt consumers and the wider economy. Economic regulations were promoted during the Gilded Age, in which progressive reforms were claimed as necessary to limit externalities like corporate abuse, unsafe child labor, monopolization, pollution, and to mitigate boom and bust cycles. Around the late 1970s, such reforms were deemed burdensome on economic growth and many politicians espousing neoliberalism started promoting deregulation. The stated rationale for deregulation is often that fewer and simpler regulations will lead to raised level ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stream Energy
Stream Energy is a subsidiary of NRG Energy and a retail electricity company. It uses multi-level marketing as its primary sales channel. The company sells electric and gas services in seven states and Washington, D.C. History Stream was founded in 2005 by Rob Snyder and Pierre Koshakji. Stream has energy services in seven states, including Texas, Pennsylvania, New York, New Jersey, Georgia, Maryland and Illinois, as well as Washington D.C. The company first offered energy services in Texas following the deregulation of the Texas electricity market. The company expanded to Georgia in 2008, followed by the Northeast in 2010. In 2015, Stream also began offering mobile phone service, Stream Wireless. Stream moved its headquarters from the Infomart building on Stemmons Freeway Interstate 35E (I-35E), an Interstate Highway, is the eastern half of I-35, where it splits to serve the Dallas–Fort Worth metropolitan area. I-35 splits into two branch routes, I-35W and I-35E, at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kohlberg Kravis Roberts
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. , the firm had completed more than 650 private equity investments in portfolio companies with approximately $675 billion of total enterprise value. , assets under management ("AUM") and fee paying assets under management ("FPAUM") were $471 billion and $357 billion, respectively. The firm was founded in 1976 by Jerome Kohlberg Jr., and cousins Henry Kravis and George R. Roberts, all of whom had previously worked together at Bear Stearns, where they completed some of the earliest leveraged buyout transactions. Since its founding, KKR has completed a number of transactions, including the 1989 leveraged buyout of RJR Nabisco, which was the largest buyout in history to that point, as well as the 200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Griddy
Griddy was an American power retailer that formerly sold energy to people in the state of Texas at wholesale prices for a $10 monthly membership fee and had approximately 29,000 members. The company itself was based in California. History Griddy LLC was incorporated in 2016 in Delaware, but physically located in Playa Vista, California. Some investment was taken from EDF Trading in 2019. In December 2020, new leadership was appointed. Michael Fallquist (Chief Executive Officer), Christian McArthur (Chief Operating Officer), and Roop Bhullar (Chief Financial Officer) were appointed and an agreement with Macquarie Energy was entered. All three new appointments had previously worked at Crius Energy (acquired by TXU Energy in 2019). 2021 Texas power crisis During the February 2021 Texas power crisis, some Griddy customers who signed up for wholesale variable rate plans allowed by the Texas deregulated electricity market found themselves facing over $5,000 bills for five da ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
February 13–17, 2021 North American Winter Storm
A major winter and ice storm had widespread impacts across the United States, Northern Mexico, and parts of Canada from February 13 to 17, 2021. The storm, unofficially referred to as ''Winter Storm Uri'' by the Weather Channel, started out in the Pacific Northwest and quickly moved into the Southern United States, before moving on to the Midwestern and Northeastern United States a couple of days later. The storm resulted in the National Weather Service issuing various winter weather alerts impacting over 170 million Americans. Over 9.9 million people in the U.S. and Mexico experienced blackouts, many due to a major power crisis in Texas, which became the largest in the U.S. since the Northeast blackout of 2003. The storm contributed to a severe cold wave that affected most of North America. The storm also brought severe destructive weather to Southeastern United States, including several tornadoes. On February 16, there were at least 20 direct fatalities and 13 indirect fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
