Rather than admit mistakes were made, the current political leadership in Texas seems content in assuring residents of the state that the problem with their electrical system has been fixed. There is another name for this economic system: crony capitalism. But Texas has devised a system where power generators, with close political ties, can benefit when the system fails, and risk is ultimately borne by the customers. Texas received some relief in the form of warmer temperatures. Its been colder in Texas before and its snowed.
#TEXAS FREEZE 2021 FREE#
In a free market, businesses are rewarded for taking risks. Carancahua Bay and most of the rest of Texas were blanketed by snow and freezing weather. This was one of the most impactful winter events in recent history that brought multiday road closures, power outages, loss of heat, broken pipes, and.
Ultimately, generation companies keep all the money they made during the 2021 winter storm.ĮRCOT has not created a free market for electricity. The Winter Outbreak that occurred on Valentines Week 2021 brought not only snow, sleet, and freezing rain to Southeast Texas, but also extreme cold temperatures that lasted for several days. The city had not seen temperatures that frigid in more than 30 years. What went wrong during the February 2021 winter freeze. In Austin, frozen precipitation and lows as cold as 6 degrees were predicted for Tuesday, Feb. Winter Storm 2021 How Texas’ power grid failed in 2021 and who’s responsible for preventing a repeat. One year ago today, forecasters warned of a historic winter storm that would send Texas into a deep freeze. Instead of forcing the energy companies (who are huge campaign contributors) to return excess profits resulting from ERCOT’s idiotic market design, the Texas Legislature passed a law that says Texans will pay increased electric bills for many years to come. Texans face another day of outages and water pressure issues amid freezing. one year later - How the 2021 Texas freeze changed us.
ERCOT’s own Independent Market Monitor called foul and demanded that consumers be refunded billions in overcharges during the storm and its aftermath. ERCOT faces Texas lawmakers after devastating power outages Feb.
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