Snowpocolypse: rolling blackouts ins uted

[Dirks_Finale]

factoid:

https://www.chron.com/news/houston-t...ed-6435629.php

https://www.bondbuyer.com/news/texas...39;s%2017.4%25.

[clambake]

A little less. But in that neighborhood.

Thanks for taking them in. They couldn’t hack it here.

[Winehole23]

https://www.bondbuyer.com/news/texas...39;s%2017.4%25.

thanks

[Dirks_Finale]

They will hold up in courts.

Texas will pass some good ol' socialism to stop it though.

Use the rainy day fund to pay for their own eff ups. Call it socialism if you want.

[ChumpDumper]

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.

[Winehole23]

Use the rainy day fund to pay for their own eff ups. Call it socialism if you want.

public expenses are only socialism when Republicans don't like them.

[ChumpDumper]

Honestly these guys didn't really do anything wrong.

RepubliQans set up the system to fail by design decades ago.

[Winehole23]

Honestly these guys didn't really do anything wrong.

RepubliQans set up the system to fail by design decades ago.

Will they testify anyway?

[Winehole23]

We are all going to have pay more for the infrastructure investment. This will essentially be a regressive stupidity tax, unless the state steps in.

The Feds may even provide funds, because the current administration isn't populated by s.

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.

[boutons_deux]

Texas electricity retailer Griddy hit with $1 billion lawsuit for ‘price gouging’ after outages

https://link.dallasnews.com/lt.php?i...5430A15A645257

[Winehole23]

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

[Winehole23]

Love the diction here, the words "printed" and "delivered" seem to be load-bearing.

who talks this way?

"Printed"

[Winehole23]

Does ERCOT print money?

[daboom1]

https://threadreaderapp.com/thread/1...839803394.html

[RandomGuy]

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.

Because human being suck at risk assessment. Given that companies are run by those things, that becomes a problem.

[boutons_deux]

Does ERCOT print money?

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")

[Winehole23]

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*?

[RandomGuy]

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.

[SpursforSix]

Because human being suck at risk assessment. Given that companies are run by those things, that becomes a problem.

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.

[ChumpDumper]

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.

[SpursforSix]

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.

[ChumpDumper]

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.

[Th'Pusher]

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.

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.

[ChumpDumper]

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.

[SpursforSix]

It's a one in ten years event.

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.