LCRA moves forward with plans for fiscal year 2024
Friday, May 26, 2023 by Elizabeth Pagano
The Lower Colorado River Authority (LCRA) Board of Directors has approved a 2024 business plan of about $565 million and endorsed about $1.17 billion in energy, water and public service projects. “Our fiscal year 2024 plans carry on our tradition of investing in infrastructure that will help the people of Texas continue to be successful in their businesses and their communities,” said Timothy Timmerman, chair of the LCRA Board of Directors, in a statement to the press. “Planning is key for enhancing economic growth, and LCRA is committed to supporting our state’s growth with the water, electric power and electric transmission needed to thrive.” The plans can be read here, but a press release from LCRA notes that the capital budget includes a new, natural gas-run “peaker power plant” that can pick up the slack when demand surpasses the power available. The river authority also plans to (eventually) spend $3 billion on new and improved transmission facilities, $159 million developing new water supply projects and $38 million “in rehabilitation projects to help ensure the dams continue to operate safely and effectively, meeting all state regulations for dam safety.” LCRA is funded by its business revenue, not state appropriations or taxes.
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