"Such 'energy-only' markets rely on investors to anticipate demand for all conditions and build appropriate resiliency into the system. They allow prices to soa

"Such 'energy-only' markets rely on investors to anticipate demand for all conditions and build appropriate resiliency into the system. They allow prices to soar during extreme events to incentivize preparedness." Surely any such incentive is self-limiting? The more preparedness it creates, the less likely it is to pay out. The article talks about the uncertainty of there being a payoff, but not about how the incentive itself affects that uncertainty.