Re:Clearing price for supplying power to Texas grid –$31.65
by GhostVII on Sunday February 21, 2021 @12:29AM
(#26211068)
I don't think anybody said the market solves all problems. It's completely possible to have a free market with some regulations, you just say that to participate in the market you must meet certain reliability standards, like being able to withstand low temperatures for a long period of time. Private businesses can count on being bailed out when once in a few decade disasters happen (which makes some sense, imo, since it's not efficient for each business to prepare for disasters), so the only way they will prepare is if they are required to.
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Re:Clearing price for supplying power to Texas grid –$31.65
by ncmncm on Sunday February 21, 2021 @04:57PM
(#26217653)
Many people do, in fact, insist the free market solves all problems. Many of them are in public office, many of them in Texas.
In practice, there is nothing your typical free-market evangelist likes better than a government-subsidized monopoly, but preferably without any pesky regulations.