The LCRA Board of Directors on Wednesday approved a business plan of more than $1 billion for fiscal year 2020 and also approved $435 million for capital spending in the fiscal year for energy, water and public service projects to support growth in Texas.
The Lower Colorado River Authority is the primary wholesale provider of electricity in Central Texas and manages the lower Colorado River and six Highland Lakes. LCRA Transmission Services Corporation is one of the largest electric transmission service providers in Texas.
“Texas is growing, and we’re helping to meet the increasing need for power and water in our state,” said LCRA General Manager Phil Wilson. “We’re taking action to provide vital services – building transmission infrastructure, providing wholesale power and increasing water supplies – to enhance the lives of all the Texans we serve.”
As one of the largest public power providers in the state, LCRA is helping to meet the increasing need for power in Texas. LCRA sells wholesale electricity through long-term contracts with retail utilities, including cities and electric cooperatives.
LCRA TSC plans capital spending of about $342 million in FY 2020 and, over the next five years, intends to invest about $1.4 billion to build new transmission facilities and improve existing ones. Over the next fiscal year, LCRA TSC will undertake numerous projects to increase reliability, respond to Electric Reliability Council of Texas system needs, meet projected area load growth, respond to existing customer needs and connect new generators to the grid.
LCRA also continues to make investments to increase regional water supplies and will continue to maintain and invest in its system of dams, which are critical for water supplies and flood management in the basin. Over the next five years, LCRA has budgeted more than $63 million for development of new water supply projects and more than $40 million for dam rehabilitation projects to help ensure the dams continue to operate safely and effectively, meeting all state regulations for dam safety.
“Our fiscal year 2020 plans continue our strong commitment to the people of Texas,” said Timothy Timmerman, chair of the LCRA Board of Directors. “The investments we’re making will help our state continue to grow and prosper, and we’re honored to be a part of the fabric that makes Texas such a vibrant place to call home.”
LCRA does not receive state appropriations or have the ability to levy taxes. LCRA is funded by the revenues its businesses generate.
The LCRA 2020 fiscal year begins July 1. The FY 2020 LCRA business and capital plans are available at
https://www.lcra.org/about/financial-highlights/Pages/default.aspx.
About LCRA
The Lower Colorado River Authority serves customers and communities throughout Texas by managing the lower Colorado River; generating and transmitting electric power; providing a clean, reliable water supply; and offering outdoor adventures at more than 40 parks along the Colorado River from the Texas Hill Country to the Gulf Coast. LCRA and its employees are committed to enhancing the lives of Texans through water stewardship, energy and community services. LCRA was created by the Texas Legislature in 1934. For more information, visit
lcra.org.
Media Contact
Clara Tuma
512–578–3292
clara.tuma@lcra.org
Source: LCRA Business News
