The RTO leads to high prices and rolling blackouts.

As Professor William Hogan of Harvard, one of the architects of the Texas system, said in a recent interview with the Harvard Crimson, the state’s electricity market had “worked as designed.” https://www.thecrimson.com/article/2021/2/26/hogan-texas-energy-prices/

Others were upset that rolling blackouts still happened when the auction price was below $9 per kWh. While I am not an economist, it is clear to me that market caps or not, RTOs lead to expensive, fragile grids. It’s not about those crazy people in the Lone State. It’s about the RTO structure. //

Texas didn’t have blackouts because it was unique. It had blackouts because its grid was built on the RTO system. The sooner people understand that fact, the sooner we can do something about the growing fragility of our grids.