In the mid-1990s, for instance, Texas decided against paying energy producers to hold a fixed number of backup power plants in reserve, instead letting market forces dictate what happens on the grid. Grid regulators can design markets that pay extra to keep a larger fleet of backup power plants in reserve in case of emergencies, as is done in the Mid-Atlantic. But these solutions all cost money, and grid operators are often wary of forcing consumers to pay extra for safeguards. “It’s a difficult balancing act.”In the months ahead, as Texas grid operators and policymakers investigate this week’s blackouts, they will likely explore how the grid might be bolstered to handle extremely cold weather. Over all, the state is getting warmer as global temperatures rise, and cold-weather extremes are, on average, becoming less common over time.

Source: New York Times February 16, 2021 16:45 UTC