Texas Coalition for Affordable Power Announces Rebates
June 24,2015
The Texas Coalition for Affordable Power, an electricity buying group comprised of Texas cities and political subdivisions, announced that this month is rebating back to its members $750,000.
TCAP said that it received refunds from its supplier for technical services procured by the state’s grid operator that cost less than anticipated. The coalition holds back a certain amount to meet contractually required reserves, and then refunds the rest back to members.
Nearly 90 percent of TCAP’s 169 political subdivisions will receive the checks. Individual disbursements will vary by city, depending upon electric usage and other factors.
Since 2011, TCAP members have received more than $8 million in refund checks.
For instance, the City of Arlington will receive more than $52,000 this month and has received nearly $500,000 since 2011. Corpus Christi received more than $77,000 this month and approximately $890,000 since 2011. McAllen received more than $30,000 this month and more than $335,000 since 2011.
TCAP member cities in West Texas did not receive refunds this month for reasons relating to power transmission and distribution constraints in the West Zone of the ERCOT grid.