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I think people are critical of the fact that the lack of regulation in the Texas power market allowed somebody who had absolutely zero idea of the agreement she
by selectodude 6y ago
I think people are critical of the fact that the lack of regulation in the Texas power market allowed somebody who had absolutely zero idea of the agreement she was entering to make such a catastrophically bad deal.
I'd consider myself a somewhat sophisticated financial trader and power derivatives are beyond me. I maintain calls on electricity generation by paying a fixed rate for power.
No brokerage firm would allow this person to basically gamble on spot electricity prices but somehow it's okay in the great state of texas.