3 ms·
For that, I don't blame the generation market as much as I fault legislators for horrible delays in decisions. The market cleared at the $9k/MWh cap for an exce
by caminante 5y ago
For that, I don't blame the generation market as much as I fault legislators for horrible delays in decisions. The market cleared at the $9k/MWh cap for an excessive amount of time.
E: and it was avoidable!
- whatever1 5y agoThere was huge backlash even when this super high cap was passed. The initial idea was that the market will regulate itself, thus no cap is needed. The small detail they let out of the equation is that the taxpayers will have to bail out the market if it does not regulate itself. And boy did we pay for nice ceo bonuses that spring.
- caminante 5y agoI forgot about this hilarious event where a regulator made the mistake of telling utilities they'd get bailed out. https://en.m.wikipedia.org/wiki/2021_Texas_power_crisis#PUC_controversy https://en.m.wikipedia.org/wiki/2021_Texas_power_crisis#PUC_...