"The Market was Working as Designed". Texas Grid Architects Don't See the Problem
In January 2014, power plants owned by Texas’ largest electricity producer buckled under frigid temperatures. Its generators failed more than a dozen times in 12 hours, helping to bring the state’s electric grid to the brink of collapse. The incident was the second in three years for North Texas-based Luminant, whose equipment malfunctions during a more severe storm in 2011 resulted in a $750,000 fine from state energy regulators for failing to deliver promised power to the grid. In the earlier cold snap, the grid was pushed to the limit and rolling blackouts swept the state, spurring an ...
Source: climatecrocks.com