News and Events
June 11, 2008
Texas Power's COO Puts Pressure on PUC
Larry Kelly Intends to Champion Change, Not Drop Customers
ARLINGTON, Texas, (June 11) While the volatility of the natural gas market forces some Retail Electric Providers ("REP") to shut their doors, it has also spurred others to invoke change in the system. Larry Kelly, the Chief Operating Officer for Texas Power is one of a handful of people doing their part to temper the soaring costs of energy prices. In an interview given to the Houston Chronicle, Mr. Kelly stated that if the erratic nature of the market continued without any reform by the PUC he would be forced to move out of certain areas of Texas. His wording does not match his true intentions.
Larry Kelly's Goal
Mr. Kelly's words seemed to reflect instability, although in another interview given to the Star-Telegram he made it very clear that Texas Power has the line of credit to keep it in the electricity market for a long time. What he meant was that if changes were not made and regulations were not put in place to stop the balancing energy market price from skyrocketing to the point that it repeatedly hit the cap, that it would not be worth it for REPs in general to do business in those areas. This was not a warning to customers but rather it was intended to encourage the PUC to take action. His goal, and the goal of Texas Power, is to stabilize the market and provide relief to customers. After reading the piece in the Houston Chronicle, Mr. Kelly had this to say, "We want to ensure our customers that I was just trying to make a point with the PUC that things needed to change. We are fighting for our customers and we have no intention of leaving the markets in Houston and the South."