As Texas plunged into darkness last month, its power markets turned to chaos. The financial repercussions of that chaos are becoming apparent now.

The polar vortex which incapacitated much of the electric grid in Texas is gone, but the financial vortex is happening now in the state and will be around for years, if not decades.

Only a transition seen by all as being fair and equitable will command that consent, engagement and participation. We will therefore fail to make the transition if we fail to make the transition just.

That brings the total shortfall to nearly $2.5 billion, according to a market notice.

"The entire energy sector failed Texas," said NRG Energy Inc Chief Executive Mauricio Gutierrez, who testified.

Those essentials include power for natural gas wells, processing plants and compressor facilities, but Texas Energy Reliability Council Chairman James Cisarik said keeping natural gas flowing to power plants requires operational water, communication and transportation infrastructure.

NREL said it had established the CPO to “accelerate [its] leadership in securing renewable energy technologies and distributed energy systems”

The US offshore wind market is expected to grow several-fold increase in capacity, from 2020 levels of (42 MW) to estimated ~28 GW by 2030

"At the end of the day our customers want reliable energy. For us natural gas is the complement to renewable energy — there is no way to think of a reliable system without having a flexible way to produce electricity. Gas is offering this flexibility,"

The EU will provide nearly Eur10 billion of funding that the partners will match with at least an equivalent amount of investment, the EC said in a statement.