Texas approves Permian Basin Reliability Plan to meet electricity demand
The Public Utility Commission of Texas (PUCT) has approved the Permian Basin Reliability Plan, which supports the expansion and electrification of the US’s largest oilfield to address growing electricity demand. The plan stems from a report by energy companies and S&P Global warning of increased demand in the region.
The expansion aims to reduce emissions from oilfield operations. Still, it is expected to strain Texas’ power grid, already under pressure due to energy-intensive industries like data centres and cryptocurrency mining. ERCOT projects a 27 GW demand increase by 2027, requiring upgrades of $ 12.95 billion to $ 15.32 billion.