Joshua Rhodes writes in Forbes on the Texas energy freeze during Winter Storm Uri.
- Last year Winter Storm Uri took out much of Texas’ power grid.
- Some are blaming the grid’s free-market, “energy only” structure for the power outages, while others have blamed renewable energy deployment.
- Proposed reforms to make Texas a capacity market, which is seen in California, could lead to increased costs for consumers and governments picking energy winners and losers.
- To improve the reliability of the grid, while protecting consumers and the environment, regulators in Texas should continue to implement an “energy only” market while pragmatically investing in grid infrastructure.