Clearing price for supplying power to Texas grid –$31.65
The market in power should only exist to optimise. Its become a rei-ified good in its own right, and is being gamed by bad faith actors with stranded assets (coal, oil) to make a point about green power and capital investment money they want.<p>It&#x27;s possible no power network could have avoided some of this, but its patently obvious a regulated power utility function needs investment, and the market is not the best model to get it: its the one federal and texan politicians wanted.<p>A public utility model is not perfect. I argue it would  have been better than this, and identified the capex required for systems resiliency before this crisis hit.<p>The energy market is not the solution. The energy market is the problem.