Texas Aggregation Achieves 3¢/kWh For Renewable Power
Adopts New Brand
April 30, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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The Texas Renewable Energy Co-op (or TREC, rebranded and formerly Texas Power Pool) announced that it, "has confirmed receipt of multiple bids for wholesale electricity below the 3-cent per kWh target price on 12-year contracts."
Mike Bendewald, Managing Partner at Texas Energy Aggregation (TEA) stated, "Subscribers to TREC can now leverage 100% renewable power from specific facilities and, depending on your location, for less than 3-cents."
TEA was selected by Texas Comptroller's Statewide Procurement Division to facilitate the renewable purchasing solution sponsored by SECO, the State Energy Conservation Office.
"We have carefully designed a fully de-risked, wholesale renewable product." Bendewald said. "Customers can continue to purchase their retail grid power in shorter increments, while benefitting from fixed-cost renewable power in longer terms for increased budget certainty. It satisfies both the environmental and budget concerns of tax payers."
Under the process, TREC sought out financial backers for wind and solar projects to match the base load profile of subscribers. The renewable portion will then be sleeved through multiple retail energy providers who compete to provide the balancing-load grid power for each customer in shorter terms.
More than 20 public entities in Texas have now signed Letters of Interest representing over 150 megawatts of minimum electricity load, TREC said
TREC will close its first aggregation in early July
TEA said that it already has smaller cities and school districts lining up their agendas and decision makers for a second aggregation later this year.
TREC also announced that channel agreement energy consultants are able to use the TREC for their clients. "Most of these entities utilizing consultants or purchasing programs are paid residually through the customer's electricity bill. We only request that fees are displayed on the customer's electricity contract. Taxpayers deserve more transparency than they have been getting from other offerings. Consultants and purchasing pools and programs should have no problem with divulging their fees, nor with customers sharing the rates they achieved for their customers," TEA President TJ Ermoian said