Counterpoint: electricity markets are terrible for reliability.
Markets are great, but there are no pricing signals for reliability. You won't know that your grid will collapse at the first strong breeze, until it happens (see: Texas).
Theoretically, it can work because companies might invest in reliable generation, in the hopes of getting $$$$$$$$$ when the spot price goes up through the roof. But in practice, pretty much nobody wants to wait 5-10 years between "income events".
And it's even worse in Europe. It's just a story of utter market failure.
Markets are great, but there are no pricing signals for reliability. You won't know that your grid will collapse at the first strong breeze, until it happens (see: Texas).
Theoretically, it can work because companies might invest in reliable generation, in the hopes of getting $$$$$$$$$ when the spot price goes up through the roof. But in practice, pretty much nobody wants to wait 5-10 years between "income events".
And it's even worse in Europe. It's just a story of utter market failure.