Texas Energy Fund application process raises questions from lawmakers

The launch of Texas' new $5 billion energy fund, aimed at incentivizing the construction of gas-fired power plants, has sparked questions about the handling of loan applications.

State lawmakers are demanding answers from the Public Utility Commission of Texas and contractor Deloitte after an application for a Texas Energy Fund loan was advanced despite its submitter being an executive from Aegle Power with a 2017 fraud conviction.

State Sen. Paul Bettencourt criticized Deloitte, questioning how the high-dollar contractor overlooked the applicant's criminal background.

The PUC ultimately rejected the loan application from Aegle Power, but the incident has raised concerns about oversight and the vetting process for the Energy Fund.

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