How a Texas electric co-op rebuilt for reliability | Sponsored content from Rayburn Electric
Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 27 January 2026
⏱️ 45 minutes
🧾️ Download transcript
Summary
As Texas battles another bout of bitterly cold weather, Energy Gang looks at the lessons that one generation and transmission electric co-operative learned from Winter Storm Uri in 2021. The freeze and subsequent shock to energy prices showed providers how dangerous it can be to rely on the market alone.
For Rayburn Electric, a not-for-profit, member-owned cooperative, incurring years of power costs in just days was a catalyst for a fundamental reset of its approach to risk and resilience.
Host Ed Crooks is joined by Rayburn’s President & CEO David Naylor, and General Counsel Chris Anderson, to hear the story of how they rethought how the co-op could best serve its members, and implemented its new strategy. The crucial steps included a first-of-its-kind securitization for a co-op, to spread costs over decades, and a strategic pivot toward owning generation as a natural hedge for its electricity sales. The co-op bought a power plant, now called the Rayburn Energy Station, and has RES 2 in the works, to meet reliability needs amid rapid load growth. David and Chris share what changedinside the organization too, driven by the principle that ‘status quo is not company policy.’
Operating exclusively within ERCOT, Rayburn provides power to approximately 625,000 Texans across sixteen counties, working collaboratively with four local distribution co-ops. Its infrastructure includes more than 265 miles of transmission lines and more than 1,000 MW of owned generation capacity, including the Rayburn Energy Station, a combined-cycle natural gas plant added to strengthen reliability after Winter Storm Uri.
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Transcript
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| 0:00.0 | Texas is growing fast and Rayburn Electric Cooperative is ready. |
| 0:04.2 | Serving more than 625,000 North Texans through its four member co-ops, |
| 0:08.7 | Rayburn is investing in locally controlled dispatchable power to strengthen grid reliability as demand rises. |
| 0:15.1 | With one major natural gas plant acquired in 2023 and a second facility coming in 2008, |
| 0:20.2 | Rayburn is putting large-scale power in place |
| 0:22.2 | with long-term performance in mind. These investments are about reliability where it matters most |
| 0:27.2 | and affordability for local communities. Reiburn Electric Cooperative, member-focused, member-driven. |
| 0:34.9 | Winterstorm URI, it was more risky to own generation in the Arcot market. |
| 0:40.3 | Post-Yuri, it was even more important and less risky for us to now own generation, |
| 0:45.3 | and it was more risky to rely on the market solely. |
| 0:48.3 | Winterstorm Uri was what they called a one in the 100-year event. |
| 0:52.3 | Well, we can ignore the one in 100 years events, |
| 0:56.1 | but obviously we do it at our own peril. We need to be prudent with our members' money, |
| 1:01.0 | but we also need to reevaluate and recognize that from time to time, the market is going to |
| 1:07.2 | have its bumps and its challenges. Instead of leaning heavily on the market, we're going to lean less on the market and have steel in the ground. |
| 1:14.9 | And ultimately, we ended up acquiring a power plant and then we'll build another one. |
| 1:19.1 | These are probably the most exciting times we've ever had in the power industry. |
| 1:25.8 | Hello and welcome to The Energy Gang, a discussion show from Wood Mackenzie about the fast-changing world of energy. |
| 1:31.8 | I'm Ed Crooks. |
| 1:33.1 | And today we're going to be bringing you a special episode of the Energy Gang focused on Texas |
| 1:37.6 | and on the lessons from the deadly winter storm Uri in 2021. |
| 1:42.6 | That storm, which killed at least 276 people, exposed deep vulnerabilities |
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