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"In It For The Long Run" Featuring Commissioner Jimmy Glotfelty, Public Utility Commission of Texas
Manage episode 377889090 series 3471610
We are excited to share this Special Edition with you. We had the opportunity late last week to visit with Jimmy Glotfelty, Commissioner on the Public Utility Commission of Texas (PUC). Jimmy was appointed as Commissioner by Governor Abbott in 2021 following an extensive career in the energy and power public and private sectors, including Founder of Clean Line Energy, Senior Policy Advisor to US Secretary of Energy Spencer Abraham, Energy Policy Director to then Texas Governor George W. Bush, Legislative Director for Congressman Sam Johnson, and Executive and Managerial roles at Calpine Corporation, ICF Consulting and Quanta Services. Jimmy was recently and additionally directed by the Governor (letter linked here) to lead a new Working Group focused on the future of nuclear energy in Texas. It was our honor not just to visit with Jimmy but to help him publicize the Working Group’s efforts in order to allow for anyone who has ideas or thoughts to aid in evaluating advanced nuclear energy to be able to share them with the Commissioner.
In our discussion, Jimmy shares background on the group’s creation and goals, Texas’ position to be a leader in nuclear energy, as well as the role of Texas communities. On Thursday, September 28th, the first public meeting will take place in Austin (details linked here) to discuss the Working Group’s proposed organizational structure, process and timeline for the coming months. Jimmy reiterated the group’s willingness to hear all opinions, including voices from underserved communities and those who are opposed to nuclear. We also discuss which other states are preparing to build nuclear sites and how nuclear can position Texas to have reliable and clean power for decades to come, how to address short-term power and transmission issues, how the Working Group will collaborate with the Federal government, the feedback Jimmy has received so far, and Jimmy’s personal interest in the cause. We ended with Jimmy’s vision for power in Texas in ten years. We are confident that Jimmy and his team are prepared for the challenge and were thrilled to spend time with him.
Mike Bradley kicked us off by highlighting that bond markets are under pressure given the FED’s recent dialogue that interest rates are likely to stay higher for longer, which pushed the 10-year yield to 17-year high of 4.5%. From a commodities standpoint, he highlighted that Brent and WTI price were relatively unchanged on the week given that Saudi remains vigilant with crude oil production management, which is keeping global physical crude oil markets tight. He also noted that WTI could be getting additional price support due to Cushing crude oil storage levels nearing 10-year seasonal lows. He highlighted that broader equity markets were down roughly 4-5% over the last five trading days due to lingering concerns around interest rates, crude oil prices, a US government shutdown, and the UAW strike against the three largest US automakers. He also noted that two high profile IPOs have recently traded under their recent IPO price which could be a worrisome sign for equity markets. Mike wrapped by noting that the UK government looks to be pushing out the phase out date for their ICE vehicle sales from the current date of 2030 out to 2035. Brett Rampal joined and contributed his nuclear perspective and questions in the discussion.
If you are in the area, we hope you’ll consider joining the Commissioner on Thursday or tune in online. Updates on the Working Group’s progress will be available on the PUC website (linked here) under Project #55421.
Thanks to you all!
258 episodes
Manage episode 377889090 series 3471610
We are excited to share this Special Edition with you. We had the opportunity late last week to visit with Jimmy Glotfelty, Commissioner on the Public Utility Commission of Texas (PUC). Jimmy was appointed as Commissioner by Governor Abbott in 2021 following an extensive career in the energy and power public and private sectors, including Founder of Clean Line Energy, Senior Policy Advisor to US Secretary of Energy Spencer Abraham, Energy Policy Director to then Texas Governor George W. Bush, Legislative Director for Congressman Sam Johnson, and Executive and Managerial roles at Calpine Corporation, ICF Consulting and Quanta Services. Jimmy was recently and additionally directed by the Governor (letter linked here) to lead a new Working Group focused on the future of nuclear energy in Texas. It was our honor not just to visit with Jimmy but to help him publicize the Working Group’s efforts in order to allow for anyone who has ideas or thoughts to aid in evaluating advanced nuclear energy to be able to share them with the Commissioner.
In our discussion, Jimmy shares background on the group’s creation and goals, Texas’ position to be a leader in nuclear energy, as well as the role of Texas communities. On Thursday, September 28th, the first public meeting will take place in Austin (details linked here) to discuss the Working Group’s proposed organizational structure, process and timeline for the coming months. Jimmy reiterated the group’s willingness to hear all opinions, including voices from underserved communities and those who are opposed to nuclear. We also discuss which other states are preparing to build nuclear sites and how nuclear can position Texas to have reliable and clean power for decades to come, how to address short-term power and transmission issues, how the Working Group will collaborate with the Federal government, the feedback Jimmy has received so far, and Jimmy’s personal interest in the cause. We ended with Jimmy’s vision for power in Texas in ten years. We are confident that Jimmy and his team are prepared for the challenge and were thrilled to spend time with him.
Mike Bradley kicked us off by highlighting that bond markets are under pressure given the FED’s recent dialogue that interest rates are likely to stay higher for longer, which pushed the 10-year yield to 17-year high of 4.5%. From a commodities standpoint, he highlighted that Brent and WTI price were relatively unchanged on the week given that Saudi remains vigilant with crude oil production management, which is keeping global physical crude oil markets tight. He also noted that WTI could be getting additional price support due to Cushing crude oil storage levels nearing 10-year seasonal lows. He highlighted that broader equity markets were down roughly 4-5% over the last five trading days due to lingering concerns around interest rates, crude oil prices, a US government shutdown, and the UAW strike against the three largest US automakers. He also noted that two high profile IPOs have recently traded under their recent IPO price which could be a worrisome sign for equity markets. Mike wrapped by noting that the UK government looks to be pushing out the phase out date for their ICE vehicle sales from the current date of 2030 out to 2035. Brett Rampal joined and contributed his nuclear perspective and questions in the discussion.
If you are in the area, we hope you’ll consider joining the Commissioner on Thursday or tune in online. Updates on the Working Group’s progress will be available on the PUC website (linked here) under Project #55421.
Thanks to you all!
258 episodes
All episodes
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