The market in power should only exist to optimise. Its become a rei-ified good in its own right, and is being gamed by bad faith actors with stranded assets (coal, oil) to make a point about green power and capital investment money they want.
It's possible no power network could have avoided some of this, but its patently obvious a regulated power utility function needs investment, and the market is not the best model to get it: its the one federal and texan politicians wanted.
A public utility model is not perfect. I argue it would have been better than this, and identified the capex required for systems resiliency before this crisis hit.
The energy market is not the solution. The energy market is the problem.
It's possible no power network could have avoided some of this, but its patently obvious a regulated power utility function needs investment, and the market is not the best model to get it: its the one federal and texan politicians wanted.
A public utility model is not perfect. I argue it would have been better than this, and identified the capex required for systems resiliency before this crisis hit.
The energy market is not the solution. The energy market is the problem.