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ERCOT sets the price of electricity. There is no 'market' in the traditional sense, unless you count a government price fixing scheme as a market. In this case
by sidewndr46 5y ago
ERCOT sets the price of electricity. There is no 'market' in the traditional sense, unless you count a government price fixing scheme as a market.
In this case the price was set at the absolute maximum as allowed by the system. If the 'market' couldn't react to that absolute maximum price then the market cannot be the problem at hand.