ERCOT announces new plan to focus on growing Texas economy, population

On Tuesday, the Electric Reliability Council of Texas (ERCOT) announced its new plan as Texas continues to have a growing economy and population, the agency said in a news release.

AUSTIN (KXAN) -- On Tuesday, the Electric Reliability Council of Texas (ERCOT) announced its new plan as Texas continues to have a growing economy and population, the agency said in a news release.

During a board meeting Tuesday, ERCOT President and CEO Pablo Vegas unveiled the plan, which is called the New Era of Planning. This plan laid out by Vegas detailed the plan as a way to "better serve the needs of the rapidly growing Texas economy," the release said.

The plan ensures "all areas of system planning," ranging from "generation and load interconnections to transmission development."

“As a result of Texas’ continued strong economic growth, new load is being added to the ERCOT system faster and in greater amounts than ever before,” Vegas said in the release. “As we develop and implement the tools provided by the prior two legislatures, ERCOT is positioned to better plan for and meet the needs of our incredibly fast-growing state.”   

Vegas said the growth will present challenges. However, he said the plan will bring a "tremendous opportunity for future energy investment in Texas." Furthermore, he said this is a way to "encourage flexibility and agility of the ERCOT market design as it evolves and adapts."

Some of those challenges include thermal generation, solar generation, battery storage, Historic Summer Peak Load, wind generation and future generation, according to the presentation that can be viewed here.

ERCOT said by 2030, there will be "an estimated additional 40,000 MW of load growth," as compared to the forecast in 2023. The focus of this plan ensures the ERCOT market is prepared for this growth, the release said.

The plan also includes recommended transmission projects, which will take time to implement, according to the presentation. The Public Utility Council (PUC) will have the "the final decision" in approving the projects.