Texas power crisis revealed flaw in market’s design

Re:Texas power crisis revealed flaw in market’s design by JaimeThompson on Tuesday February 08, 2022 @06:32PM (#30266410)

>Or a regulation that says all plants must be winterized to a certain degree thus the cost of electricity will just be higher for everyone to pay for mitigation of long tail risk

The Southwest Power Pool has such regulations which is why they didn't have the same level of issues in the parts of Texas they serve.

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Re:Texas power crisis revealed flaw in market’s design by mhb on Tuesday February 08, 2022 @06:51PM (#30266571)

But they would have similar issues in some more extreme situation. Why is it obvious that the big storm that SPP has anticipated and expended resources on is the right one? Or will there be a report like this when that storm arrives and SPP also has issues?

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Re:Texas power crisis revealed flaw in market’s design by ocschwar on Tuesday February 08, 2022 @10:12PM (#30268283)

Not SPP. FERC. Winterization is required for any gear that's on an AC grid that crosses state lines. SPP is on the Eastern Interconnection. So all the players in SPP are required to winterize. ERCOT is entirely inside Texas, so they had a choice.

And they chose.... poorly.

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Re:Texas power crisis revealed flaw in market’s design by JaimeThompson on Tuesday February 08, 2022 @07:50PM (#30267109)

The SPP has taken steps to mitigate such risks. See their coverage area and other detail here https://spp.org/

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Re:Texas power crisis revealed flaw in market’s design by 7thaccount on Tuesday February 08, 2022 @10:55PM (#30268602)

There is a winter weather event report that covers what happened in granular detail and lists all the initiatives in progress to lower the chances of something similar happening again.

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