August 10 LCRA Board meeting canceled after White Stallion water contract pulled from agenda
Discussion and possible action by the LCRA Board of Directors on a contract to provide water to a proposed new coal plant in Matagorda County has been postponed indefinitely. This decision comes after the company proposing the plant substantially changed the terms of the contract on Monday, Aug 1st which prompted the cancellation of the special-called Aug. 10 meeting of the LCRA Board.
The new proposal by White Stallion asks for more time to pay the $55 million ($250,000 a year instead of $55 million upfront) and significantly reduces the amount of water reservation fees White Stallion would have to initially pay. The new proposal included other changes, some unprecedented for an LCRA water contract.
We say, good for the LCRA Board and thank you Senator Fraser for stepping in and asking the LCRA to call a moritorium on water contracts in light of this exceptional drought that blankets three quarters of the state.
Finally, thank you to the 2,200 Texas citizens who sent in cards and letters to the LCRA opposing this contract. You made a difference.
