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Texas Utilities Code - UTIL § 34.0106. Loan and Grant Restrictions

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) If the commission has more than four pending applications for loans to be made from the fund on the date the commission awards a loan, the amount of the loan awarded may not exceed 25 percent of the fund balance on that date.

(b) The commission may not provide a loan or a grant under this chapter:

(1) for a facility that will be used primarily to serve an industrial load or private use network;  or

(2) for the construction or operation of a natural gas transmission pipeline.

(c) The commission shall require each recipient of a loan under this chapter to enter into a debt covenant that requires the recipient to meet facility performance standards adopted by the commission.  The commission by rule shall adopt performance standards for the purposes of this subsection based on reliability metrics appropriate for the types of facilities for which loans may be provided.

(d) Each facility for which a loan or grant is provided under Section 34.0104 or 34.0105 must participate in the ERCOT wholesale electricity market.

(e) The commission may provide from the fund:

(1) for grants under Section 34.0103, not more than $1 billion;

(2) for loans and grants under Sections 34.0104 and 34.0105, not more than $7.2 billion;  and

(3) for grants or loans under Subchapter B, not more than $1.8 billion.

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Cite this article: FindLaw.com - Texas Utilities Code - UTIL § 34.0106. Loan and Grant Restrictions - last updated January 01, 2024 | https://codes.findlaw.com/tx/utilities-code/util-sect-34-0106/

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