WEBVTT X-TIMESTAMP-MAP=LOCAL:00:00:00.000,MPEGTS:63000 1 00:00:03.090 --> 00:00:07.650 Uh, and let me just start by saying, uh, the, the number one priority, 2 00:00:08.040 --> 00:00:12.840 what we are focused on above all else. Uh, and literally 24 hours a day, 3 00:00:13.230 --> 00:00:17.580 uh, since this event began, was, uh, getting customers their service back, uh, 4 00:00:17.610 --> 00:00:21.960 the amount of time that people in Texas have had to be out of service for 5 00:00:21.960 --> 00:00:26.940 electricity during a time of extreme cold, uh, is, uh, 6 00:00:27.840 --> 00:00:30.020 terrible. It is unacceptable, 7 00:00:30.510 --> 00:00:35.040 and we are trying to manage the electric grid so that we can get those folks 8 00:00:35.040 --> 00:00:38.880 back on their, uh, service safely and, uh, 9 00:00:39.420 --> 00:00:43.290 get the electric grid moving in the direction that we try to move it in every 10 00:00:43.290 --> 00:00:44.250 day. You know, 11 00:00:44.250 --> 00:00:48.990 our fundamental job is to keep the grid reliable by 12 00:00:48.990 --> 00:00:53.610 maintain the balance between generation and load the balance between supply and 13 00:00:53.610 --> 00:00:56.580 demand. Uh, what we have seen in this event, 14 00:00:56.670 --> 00:01:01.410 the severe winter event is that imbalance of supply and demand, uh, 15 00:01:01.470 --> 00:01:03.780 developing to a point Sunday night, uh, 16 00:01:03.780 --> 00:01:06.510 where we needed to protect the integrity of the grid. 17 00:01:07.010 --> 00:01:10.470 We needed to make sure we didn't have an uncontrolled blackout that could last 18 00:01:10.470 --> 00:01:14.400 for an indeterminate amount of time to take a very long time to get electric 19 00:01:14.400 --> 00:01:18.720 service back to people. And while this has certainly taken longer, uh, 20 00:01:18.750 --> 00:01:20.310 than we had hoped, uh, 21 00:01:20.340 --> 00:01:25.230 we're continuing to work towards the restoration of the system as it was 22 00:01:25.230 --> 00:01:27.500 last week. Uh, when these outages are over, 23 00:01:27.510 --> 00:01:31.380 people will be able to have the service that they had before this event. Uh, 24 00:01:31.410 --> 00:01:33.750 the challenge has been to, uh, 25 00:01:33.780 --> 00:01:38.610 get the grid in balance the supply and demand balance effectively in place where 26 00:01:38.610 --> 00:01:42.390 we can bring all those customers back. Uh, I know some of you were, 27 00:01:42.620 --> 00:01:47.550 if you were for the background on the event and, you know, we saw the, 28 00:01:47.790 --> 00:01:50.250 uh, this storm coming, uh, 29 00:01:50.700 --> 00:01:54.330 both in our weather forecast and then a forecast available to the general 30 00:01:54.330 --> 00:01:57.120 public, uh, knew it was coming. Uh, 31 00:01:57.180 --> 00:02:00.420 the leadership in Texas knew it was coming as for a disaster declaration, 32 00:02:00.800 --> 00:02:02.070 which was granted last week. 33 00:02:02.520 --> 00:02:06.420 A lot of steps have been taken to prepare ourselves for, uh, 34 00:02:06.510 --> 00:02:09.420 what we're going to be saying, prepare our market participants for what we saw. 35 00:02:09.960 --> 00:02:13.980 And we understood that there may be an imbalance of load and generation that 36 00:02:13.980 --> 00:02:16.920 would cause us to do rotating outages, uh, 37 00:02:17.190 --> 00:02:19.040 yesterday and today because of the, 38 00:02:19.040 --> 00:02:23.610 the size of the disparity between what we were seeing on the historic 39 00:02:23.730 --> 00:02:27.840 demand side higher than we'd ever seen in winter in Texas by far, uh, 40 00:02:27.870 --> 00:02:31.140 versus what we were seeing on the supply side. Uh, 41 00:02:31.170 --> 00:02:32.940 so we saw this coming, 42 00:02:32.940 --> 00:02:37.520 but the thing that really shifted matters was Sunday night when we had to call 43 00:02:37.550 --> 00:02:39.210 for these outages. Uh, 44 00:02:39.210 --> 00:02:44.010 and that was the cause while we were seeing the tremendous, uh, uh, 45 00:02:44.040 --> 00:02:48.480 demand side growth caused by the storm and the cold associated with it, uh, 46 00:02:48.510 --> 00:02:53.430 we saw a large drop in the amount of supply available. 47 00:02:53.910 --> 00:02:54.690 And, uh, 48 00:02:54.690 --> 00:02:59.620 if we had let that supply demand balance stay too long 49 00:02:59.620 --> 00:03:04.150 out of balance, it could have had catastrophic impacts on the grid itself. Uh, 50 00:03:04.150 --> 00:03:06.760 that could take a very, very long time to repair. 51 00:03:07.480 --> 00:03:11.650 This has been a very trying event for those Texans who have had to endure it. 52 00:03:11.800 --> 00:03:16.300 And we understand that my power has been out at my home and office Sunday. Uh, 53 00:03:16.330 --> 00:03:18.520 and I understand the challenges and it's, 54 00:03:18.740 --> 00:03:21.790 it's posing to people all over the state. Uh, 55 00:03:21.820 --> 00:03:25.870 but the work we are doing is to get us back in a place where we can get all 56 00:03:25.870 --> 00:03:29.680 customers back up and operate a safe system, uh, 57 00:03:29.740 --> 00:03:33.100 that doesn't have a risk of that sort of catastrophic event. Uh, 58 00:03:33.130 --> 00:03:36.670 and that's why we took the actions we did Sunday. And, uh, 59 00:03:37.180 --> 00:03:41.110 we're working our way through to be sure we can get everybody back on, uh, 60 00:03:41.140 --> 00:03:44.560 on a safe and secure electric grid. Uh, so now I want to stay in, 61 00:03:44.560 --> 00:03:47.650 if you could kind of give us an update on some of the key, uh, data, 62 00:03:48.070 --> 00:03:48.970 but I think you, uh, 63 00:03:49.000 --> 00:03:52.240 you may have discussed yesterday about where things stand with our system and 64 00:03:52.240 --> 00:03:56.820 its restoration effort. Uh, so I'll turn it over. Thanks. Um, 65 00:03:56.910 --> 00:04:00.840 so we have, uh, as the morning, um, 66 00:04:01.320 --> 00:04:02.880 occurred this morning, we did that. 67 00:04:02.910 --> 00:04:07.470 The power consumption on the power grid tends to be higher in the morning 68 00:04:07.470 --> 00:04:10.320 hours and go down in the middle of the day, 69 00:04:10.320 --> 00:04:12.510 come back up in the evening during the winter. 70 00:04:13.260 --> 00:04:16.470 And what we saw this morning is we had to, to, uh, 71 00:04:16.560 --> 00:04:19.620 increase this amount of load that was, uh, 72 00:04:19.650 --> 00:04:23.700 out on the system during the early morning hours today, 73 00:04:24.030 --> 00:04:28.560 we've been able to bring some of power back online. Some, 74 00:04:28.560 --> 00:04:33.390 some areas back online, um, as the, as the day has progressed today. 75 00:04:33.390 --> 00:04:34.290 And as we've gotten, uh, 76 00:04:34.410 --> 00:04:37.410 a small amount of additional generation to be available, 77 00:04:37.830 --> 00:04:42.000 but we've also at the same time we've been adding supply to the grid from 78 00:04:42.000 --> 00:04:43.200 certain generators. 79 00:04:43.440 --> 00:04:47.190 We've also been losing other generators where they have become unavailable. 80 00:04:47.700 --> 00:04:49.140 And so, uh, we, 81 00:04:49.150 --> 00:04:52.980 we haven't been able to add as much back during the course of the day that like 82 00:04:52.980 --> 00:04:56.970 to have, um, and what we have added back. We're, 83 00:04:56.970 --> 00:04:58.800 we're hoping to keep online, 84 00:04:58.800 --> 00:05:03.300 but if additional generation doesn't become available as the day goes on, 85 00:05:03.600 --> 00:05:08.130 we may actually have to take some of it back offline to maintain that power 86 00:05:08.130 --> 00:05:11.280 supply balance come this evening, uh, as the, 87 00:05:11.440 --> 00:05:16.290 the load that is being served starts going back up. Um, we have about, uh, 88 00:05:16.470 --> 00:05:17.910 the magnitude wise, 89 00:05:18.210 --> 00:05:22.770 we have about 15,000 megawatts of consumers that are out, 90 00:05:23.250 --> 00:05:27.630 um, that's somewhere between two and 3 million people that are currently out. 91 00:05:28.020 --> 00:05:32.910 Um, so that's the demand side. On the supply side, 92 00:05:33.060 --> 00:05:35.070 we have, uh, roughly, uh, 93 00:05:35.550 --> 00:05:40.140 45,000 megawatts of generation that's offline, uh, 94 00:05:40.170 --> 00:05:41.100 at the current time. 95 00:05:41.340 --> 00:05:44.550 And so that number hasn't progressed as much as we would like for it to, 96 00:05:44.550 --> 00:05:48.690 because like I said, we keep losing some, uh, as, as, uh, 97 00:05:48.750 --> 00:05:51.540 more is added and it's from a variety of reasons, 98 00:05:51.670 --> 00:05:54.780 the degenerations Dallas for a variety of reasons and righty of, 99 00:05:54.780 --> 00:05:59.570 of sources of energy that that's being tripped offline. So, um, 100 00:06:00.950 --> 00:06:04.910 the, um, about 16, 101 00:06:04.970 --> 00:06:07.220 a thousand megawatts of that is, 102 00:06:07.610 --> 00:06:12.290 is wind turbines that are offline because I think in West Texas, uh, primarily, 103 00:06:12.290 --> 00:06:13.970 but also some along the coast. 104 00:06:14.420 --> 00:06:18.920 And then we've got about a little under 30,000 megawatts of more, uh, 105 00:06:19.100 --> 00:06:23.900 thermal generation, like gas, coal, nuclear plants that are out. And so, 106 00:06:23.960 --> 00:06:28.190 uh, it's really, like I said, a variety of resources that are out. Um, 107 00:06:29.780 --> 00:06:33.710 yeah, so that's, that's, that's the report right now.