Delayed SPR Deliveries, New Texas Power Law, EQT: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
Texas Law Gives Grid Operator Power to Curtail Data Centers' Power During Crisis - Data centers and other large, non-critical power consumers connected to the Electric Reliability Council of Texas (ERCOT) transmission grid must accept curtailment during firm load shed events under a landmark law Republican Governor Greg Abbott signed earlier this month. Senate Bill 6 pairs mandatory curtailment with a voluntary demand response procurement program under which loads of 75 megawatts or more could ramp down or switch to backup generation at utilities' request. (Utility Dive)

CRUDE OIL
U.S. Oil Deliveries to Strategic Reserve Delayed - The U.S. will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve (SPR) until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday. Former President Joe Biden's administration scheduled 15.8 million barrels of deliveries to the SPR from January through May. So far this year only 8.8 million of that has been delivered to the reserve. (Reuters)

CORPORATE
Energy Firm EQT Settles Investor Lawsuit - U.S. energy company EQT Corporation (Pittsburgh, Pennsylvania) agreed to pay $167.5 million to settle a class action lawsuit filed by investors who claimed EQT overstated the benefits of its $6.7 billion merger with Rice Energy in 2017, according to a federal court filing on Thursday by the plaintiffs. When the deal was announced in 2017, it was expected to create the biggest natural gas producer in the U.S. and was the biggest deal ever for EQT as it looked to expand its gas business. EQT is currently the No. 2 gas producer in the country. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).