The Texas Freeze: Why the Power Grid Failed

By relying on the market to give energy suppliers' incentives to keep the power going during extreme weather events, a historic cold snap in Texas revealed cracks in the state’s free-market energy system, which left millions powerless during the storm. Critics of the state’s system say “the alphabet soup of Texas energy oversight bodies” led to inaction and there was a lack of preparation from plant owners to ensure that they could continue to operate in extreme heat and cold temperatures.

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