6 ms·
Correct me if I'm wrong, as I don't have access to the article. The deregulated option allowed people to pay an extreme price for a scarce resource during a rar
by bitshiftfaced 6y ago
Correct me if I'm wrong, as I don't have access to the article. The deregulated option allowed people to pay an extreme price for a scarce resource during a rare and extreme weather event. The regulated option forced blackouts on people, and they had no option even if they wanted to pay $10,000 for one night of power.
This brings us back around to the original question: what regulation would have solved this problem?
- whimsicalism 6y ago> Correct me if I'm wrong, as I don't have access to the article. The deregulated option allowed people to pay an extreme price for a scarce resource during a rare and extreme weather event. The regulated option forced blackouts on people, and they had no option even if they wanted to pay $10,000 for one night of power. Well, except for the fact that the "free market" arrived at one year contracts with sticky prices.
- tedunangst 6y agoGriddy customers were not exempt from blackouts. You lost power if you were in an "expendable" part of the grid, regardless of provider.
- whoknew1122 6y ago> "This brings us back around to the original question: what regulation would have solved this problem?" I dunno... a regulation that forced plants to winterize so they're prepared for extreme weather? I also find it laughable that Texas is all about small government and deregulation until the PUC and ERCOT start losing money. Then they decide that it's ok for ERCOT to backdate prices and change the price of electricity already sold days ago. I'm just waiting for my electric company to try and change my pricing even though I'm on a fixed-rate contract.
- jounker 6y agoThere is no regulated option in Texas. Required winterization is the kind of regulation which would have prevented the plants from shutting down.