The Texas Legislature is conducting hearings today to determine what led to last week’s massive power outages. We’ve all learned a lot about how Texas’ energy infrastructure works in week since the historic winter storm, and the story of the failures of the deregulated marketplace has remained at the top of the nation’s headlines.
What is now clear is that last week’s event was brought about by a confluence of factors, ranging from physical challenges in natural gas distribution and power plant operation to market-related issues with how plants are incentivized to prepare for catastrophic weather events. There have also been a lot of potential fixes tossed about, ranging from reconsidering the independence of Texas’ grid from the rest of the nation’s infrastructure to taking to task the Electric Reliability Council of Texas, or ERCOT, which operates and manages the state’s electrical grid.
The legislative sessions hope to bring some additional clarity as to what went wrong, as well as identify ways the state’s leadership can ensure that such a cataclysmal event – which has resulted in the deaths of a still un-certain number of Texans – never happens again. But as the legislature deliberates, keep an ear out for any answers to these four key questions that must be at the heart of any attempt to repair Texas’ broken electricity system.Read More