Is this the end of Texas’s Wild West electricity market?
When the Texas power grid crashed this week, fingers were pointing faster than guns at a gunfight in the Wild West. Texas' Electricity Reliability Council (ERCOT), which manages the state's power grid, made it clear that frozen natural gas pipelines and power plants were really to blame. In 1999, Texas, along with more than a dozen other states, “deregulated” its electricity system, meaning it moved from a monopoly electricity supplier to a marketplace of competing power plants and retailers.
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