(Showing just what unregulated free markets actually do.)
(Follow article link to listen to 8 minute audio pod cast.)
In 2021, a huge winter storm hit Texas. It caused a days-long blackout that resulted in hundreds of deaths. The Texas grid operator adopted a new policy to guard against another blackout: it would incentivize plants to keep power in reserve. The problem is: that may have caused major price spikes.
Today, we make sense of the reserve policy, increased electricity prices, and the future of Texas' unique energy market.
I live in Texas but very far West tip of it and we're treated like the step child to the State. Anyway our power grid is not connected to the rest of Texas, we have our own. Still it was sad that people died and people were freezing in their homes. Ted Cruz took his family and fled to Cancun, Mexico for a warm vacation while his people died and were freezing, what a great state with it's great politicians!
I adopted my current dog through Petfinder, she came from a Huge shelter in Texas with over 300 dogs, several dozen horses, and assorted goats, potbellied pigs, etc.
I was in the process of applying for a second dog from there, but that winter the power outage caused their water supply to become non-existent and the threat of death by dehydration/thirst was so horrible they were forced to put everything down and use bulldozers to bury them all.
All the volunteers walked away and never returned, and I can understand that.