That's the theory, the practice is different. Also, the purpose of a market isn't to have a market, it's to have robust infrastructure. That's why the Texas el

That's the theory, the practice is different. Also, the purpose of a market isn't to have a market, it's to have robust infrastructure. That's why the Texas electrical grid is such a basketcase. Generators are paid for production but what you really need is spare capacity on peak days. The price excursions on a few hot or cold days are not nearly enough to incentivise building capacity that sits unused most of the year. In New England, on the contrary, generators are also paid for capacity, which is why one grid works and the other not at all.