The Texas grid got crushed because its operators didn't see the need to prepare for cold weather
When it gets really cold, it can be hard to produce electricity, as customers in Texas and neighboring states are finding out. But it’s not impossible. Operators in Alaska, Canada, Maine, Norway and Siberia do it all the time.
What has sent Texas reeling is not an engineering problem, nor is it the frozen wind turbines blamed by prominent Republicans. It is a financial structure for power generation that offers no incentives to power plant operators to prepare for winter. In the name of deregulation and free markets, critics say, Texas has created an electric grid that puts an emphasis on cheap prices over reliable service.
It’s a “Wild West market design based only on short-run prices,” said Matt Breidert, a portfolio manager at a firm called TortoiseEcofin.
And yet the temporary train wreck of that market Monday and Tuesday has seen the wholesale price of electricity in Houston go from $22 a megawatt-hour to about $9,000. Meanwhile, 4 million Texas households have been without power.
https://www.msn.com/en-us/news/us/the-texas-grid-got-crushed-because-its-operators-didnt-see-the-need-to-prepare-for-cold-weather/ar-BB1dJPUS?li=BBnb7Kz
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