The Texas electric grid failure was a warm-up
<i>officials decided to bypass the market and, on Monday evening, manually set prices at the maximum of $9,000 per megawatt hour. (By comparison, the average hourly price in 2020 was $25.73.)</i><p>I don&#x27;t understand why the max price is so exorbitantly high -- if they capped it at, say, 10X the 30 day rolling average, then they&#x27;d still incentivize everyone with energy to sell to bring it online, but without bankrupting utilities and customers who have to pay over 300 times the normal cost of energy.<p>A family that normally pays $20 for a day of electricity in cold weather can probably manage to pay $200&#x2F;day for a couple days, but probably not $7000&#x2F;day.