On the Ballot: A Taxpayer Funded Bank for Gas Plants

This year’s constitutional amendment ballot includes the so-called Texas Energy Fund. Early voting for the constitutional election is already open throughout the state; Election Day is November 7. 

There's virtually no chance that Proposition 7 will fail. Constitutional amendments rarely do. Still, it's important that voters know what’s on the table — and, if it passes, what’s coming.

Prop. 7 would allocate $10 billion to the Texas Energy Fund, of which $7.2 billion would go to subsidies and low interest loans for new thermal plants in ERCOT, plus $1 billion for new plants outside of ERCOT. The other $1.8 billion will help pay the cost of microgrids that will provide backup power at critical facilities.