3 ms·

OK, last 365 days, 31% for Texas, 29% for Cali. You can play here https://www.eia.gov/electricity/gridmonitor/dashboard/electric_overview/US48/US48 https://www

OK, last 365 days, 31% for Texas, 29% for Cali. You can play here https://www.eia.gov/electricity/gridmonitor/dashboard/electric_overview/US48/US48 https://www.eia.gov/electricity/gridmonitor/dashboard/electr...

acdha 3y ago
That would mean that California is producing more renewable power since its grid is considerably larger, and again my point was simply that Texas is not doing enough better to justify their failures. If they were much higher, maybe we could debate something like the number of lives saved from not polluting versus the unreliability, but the state still has huge pollution issues and isn’t far ahead of the competition. As it is, it looks like the primary beneficiaries are the finance guys getting a chunk of those wild surge prices.
- TradingPlaces 3y ago
  Are you under the impression that the utility business is wildly profitable? I’d like to disabuse you of that notion. Not everything is a reinforcement of your priors.
  - acdha 3y ago
    It’s a guaranteed profit on a very large amount, which isn’t anything to sneeze at, but if you read my comment note that I specifically referred to the financialization. The way the market is structured means that suppliers see very large upsides during high demand. Going back to that 2021 crisis: > The biggest winners were companies with access to supplies, including leading energy trader Vitol, gas suppliers Kinder Morgan (KMI.N), Enterprise Products Partners (EPD.N) and Energy Transfer (ET.N), oil giant BP plc (BP.L), and banks Goldman Sachs (GS.N), Bank of America (BofA) (BAC.N) and Macquarie Group (MQG.AX). https://www.reuters.com/business/energy/results-tally-up-billions-profit-texas-freeze-gas-power-sellers-2021-05-06/ https://www.reuters.com/business/energy/results-tally-up-bil... My argument is that splitting the market up like that has been better to traders than Texas consumers.

acdha 3y ago

That would mean that California is producing more renewable power since its grid is considerably larger, and again my point was simply that Texas is not doing enough better to justify their failures. If they were much higher, maybe we could debate something like the number of lives saved from not polluting versus the unreliability, but the state still has huge pollution issues and isn’t far ahead of the competition. As it is, it looks like the primary beneficiaries are the finance guys getting a chunk of those wild surge prices.

TradingPlaces 3y ago
Are you under the impression that the utility business is wildly profitable? I’d like to disabuse you of that notion. Not everything is a reinforcement of your priors.
- acdha 3y ago
  It’s a guaranteed profit on a very large amount, which isn’t anything to sneeze at, but if you read my comment note that I specifically referred to the financialization. The way the market is structured means that suppliers see very large upsides during high demand. Going back to that 2021 crisis: > The biggest winners were companies with access to supplies, including leading energy trader Vitol, gas suppliers Kinder Morgan (KMI.N), Enterprise Products Partners (EPD.N) and Energy Transfer (ET.N), oil giant BP plc (BP.L), and banks Goldman Sachs (GS.N), Bank of America (BofA) (BAC.N) and Macquarie Group (MQG.AX). https://www.reuters.com/business/energy/results-tally-up-billions-profit-texas-freeze-gas-power-sellers-2021-05-06/ https://www.reuters.com/business/energy/results-tally-up-bil... My argument is that splitting the market up like that has been better to traders than Texas consumers.