GEXAS: Energy companies like GEXATY Energy, ACACIA Energy and Kinetic Energy Formula rely on a “Gexas Energy Formula” for their products and services, according to a letter obtained by Politico.
The letter was sent in December 2016, when North Dakota’s Renewable Energy Development Board was set up to approve energy projects that were being pursued by Energy giant EOG Resources.
But according to the letter, the board “did not take into account the fact that EOG was an oil and gas company.”
And in the years since, the EOG-EOG formula has been cited in the state’s energy law, which says the “energy standard” must be used for “all energy products” in North America.
The state’s Renewables and Energy Council has been working on a revised version of the law, and the council is expected to vote next month on whether to adopt it.
The Renewables Council has repeatedly cited the EOD formula for years, citing its ability to create jobs and keep energy prices low.
The EOD is used by both GEX and ACACIE, according a statement from the Renewables Commission.
In its letter, ECONOMIC, a subsidiary of GEX, wrote that “the EOD does not create a ‘standard’ that can be applied across all energy products, or to all consumers.”
ECONomic, which has been involved in the North Dakota Renewables Initiative, declined to comment.
The industry group EnergyInnovation.org, which supports EOG, said it has not seen a change in its support for the Eod formula.
“We don’t support the EO, and we support the Renewable Development Act,” said Energy Innovation President Greg Sibold.
“It is a great law that allows us to get projects off the ground in North Carolina and help our customers get energy that they need and that we are able to offer at a competitive price.”
The Renewable Innovation Alliance, an industry group, said in a statement that it supports “all efforts to develop and implement energy standards” and has been lobbying the EEDB to update the standards.
“The Renewable Economy Act is an important step in advancing the North Carolina economy, but it needs to be updated to better reflect the needs of our diverse customers,” the group said.
Sibolds said that EnergyInnovations was also working on updating the law to take into consideration the Energy Industry Standards (EIS), which have been adopted by other states and provinces across North America, including in Canada.
In Ontario, for example, the province’s energy regulator, the Ontario Energy Board, has adopted the EIS and has also adopted a “zero carbon standard,” which means that emissions from coal and gas power plants will be considered zero.
“These are the same standards that have been used to support the North American standards,” Sibild said.
“So, the fact the EDA was not adopted as part of the North America standards was a failure, and now we have to look at it.”
Energy companies, such as GEX Energy, rely on “GEXA Energy Formula,” which is a formula for energy that has been approved by the North Dakotas Renewable Industries Commission.