Thanks for taking them in. They couldn’t hack it here.
Thanks for taking them in. They couldn’t hack it here.
Use the rainy day fund to pay for their own eff ups. Call it socialism if you want.
Whose -ups?
And yeah, I'll call it that.
public expenses are only socialism when Republicans don't like them.
Honestly these guys didn't really do anything wrong.
RepubliQans set up the system to fail by design decades ago.
Will they testify anyway?
Hope so.
I am willing to pay more to get a grid that eventually *will be* more resilient. Even though the "free market" provided robust financial incentives to suppliers to remain online when we needed them most. Apparently that wasn't sufficient for the kind of reliability we need.
Last edited by Winehole23; 02-23-2021 at 11:17 PM.
Texas electricity retailer Griddy hit with $1 billion lawsuit for ‘price gouging’ after outages
https://link.dallasnews.com/lt.php?i...5430A15A645257
what a surprise
who talks this way?
"Printed"
Does ERCOT print money?
Because human being suck at risk assessment. Given that companies are run by those things, that becomes a problem.
By granting permission to power plant operator to raise prices, ERCOT is allowing the operators effectively to "print money" like a US Mint, "because they can".
We'll if Tx govt cancels the price gouging, violating their free market, laissez-faire perfect solution of man-made restricted supply raising prices to (desperately high) demand.
(laissez-faire means "let extractive suppliers over demanders")
Thanks. I guess I meant technically, how does it work, how are the payments structured?
How do they *do it*?
Bit of a misuse of the term. You aren't creating new money, just saying that an asset was suddenly worth more money than it was before.
I'm not sure that's true. The average person sucks at risk assessment but the ones that do this for a living at the highest level are incredibly intelligent and have the tools to be fairly accurate.
This last event was probably a 1/100 situation (at least). Lots of plants offline, frozen windmills, frozen natural gas facilities, etc.
You can't plan for everything.
You can plan for weather that happens in over half the US.
This happened in Texas ten years ago and the risk assessment people said to prepare for its happening again.
The producers did not.
This is over my pay grade.. But I'm sure it's all about money and is it worth it to upgrade facilities to offset for a 1 in 100 event. Every year, I turn down letters from my insurance company to add on accidental death because I assess that it's pretty unlikely. And that's probably more likely than the weather event we just had.
It's a one in ten years event.
Because they weren’t required to as they should have been, imo. Considering the public and private cost of this disaster, not to mention the loss of life, I wonder what the ROI on winterizing the grid would have been had we done it as was recommended as early as 1989.
I'm going out on a limb to say the cost of winterizing was less than $50,000,000,000.
You'll need to give me your data for that.
Negative degrees across that much of the state at the same time seems < than 1/10.
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