H.B. No. 5617 aims to enhance the utilization of the Texas Energy Fund to support dispatchable electric generation that utilizes treated fluid oil and gas waste. The bill introduces a new subchapter in Chapter 34 of the Utilities Code, defining key terms such as "treated fluid oil and gas waste," "dispatchable electric generation," and "high renewable energy generation areas." It amends Section 34.007 to empower the Texas Energy Fund Administrator to allocate funds for projects that use treated fluid oil and gas waste as a primary water source for dispatchable electric generation, particularly in areas facing economic challenges due to high renewable energy generation.

Additionally, the bill amends Chapter 481 of the Government Code to ensure that the Texas Energy Fund considers these projects when evaluating economic incentives for new energy infrastructure investments. The Public Utility Commission of Texas is tasked with overseeing the integration of these criteria and establishing project application guidelines within 180 days of the Act's effective date. The bill also mandates an annual review by the Public Utility Commission to assess the impact of these incentives on dispatchable generation investments, with the Act taking effect immediately upon passage by a two-thirds majority or on September 1, 2025, if the necessary votes are not secured.

Statutes affected:
Introduced: Utilities Code 34.007 (Utilities Code 34)