Texas voters approve amendment putting billions toward gas power plants

Texas voters on Tuesday decided to put billions of dollars into natural gas power plants as part of an effort aimed at increasing the reliability of the state’s electric grid.

The creation of the Texas Energy Fund was approved in a 65-35 vote with more than 95 percent of the votes having been counted. The New York Times has called the race, saying the amendment has passed. 

The fund will make $7.2 billion in low-interest loans available for the construction of gas-fueled power plants, as well as completion bonuses for that construction and repairs to existing plants in areas controlled by grid operator ERCOT. 

It will also put an additional $1.8 billion into backup power and $1 billion in grants for power infrastructure outside of the jurisdiction of ERCOT, which covers most of the state. 

Proponents of the amendment say it will make the state’s grid more reliable, particularly in the wake of a 2021 winter storm that knocked out the power and killed hundreds of people.

However, opponents expressed concerns about the amendment’s climate change implications, arguing that the state shouldn’t be putting more money into planet-warming fossil fuels.