In the months leading up to summer, many utilities and Texas energy providers expressed concern about the grid's ability to endure another summer of record-breaking heat and energy demand, the Electric Reliability Council of Texas (ERCOT) urging Texans to lower their electricity use.
Now, it seems Texas has weathered the worst of the summer heat, but power suppliers will still face many challenges in the months to come, according to a new analysis from Vault Energy Solutions.
The report noted that when state regulators were developing ways to offset potential power shortages throughout Texas, they chose to raise the rate cap on wholesale electricity. This, the regulators say, will encourage companies to generate more power, and make it more profitable to do so.
"This should, in theory, encourage more investment by electricity producers to help with a supply shortfall that is expected to worsen over the next several years," the report noted.
Although there are fears of a shortfall of energy in Texas in the coming years, the state can still boast having excellent customer reviews of retail energy providers operating in the area. Recent reports show Champion Energy was rated the top supplier, followed closely by Bounce Energy.