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Richard Brooks's picture
Co-Founder and Lead Software Engineer Reliable Energy Analytics LLC

Inventor of patent 11,374,961: METHODS FOR VERIFICATION OF SOFTWARE OBJECT AUTHENTICITY AND INTEGRITY and the Software Assurance Guardian™ (SAG ™) Point Man™ (SAG-PM™) software and SAGScore™...

  • Member since 2018
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  • Feb 22, 2021

"The mission-critical arena of winter season reliability is too societally important to be governed by Adam Smith's "invisible hand" of the market, and an artificially constructed and imperfect marketplace at that

"The economic theory implemented by the Texas Public Utilities Commission assumes that skyrocketing prices during system emergencies will create incentives to correct shortages and blackouts. All evidence is that this does not work."

I highly recommend reading the linked article from McCullough Research, below.

This is the "dose of reality" that is missing from the scarcity pricing debate.

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Christopher Neely's picture
Christopher Neely on Feb 22, 2021

This is a tough read, mostly because this type of "unprecedented" freeze seems to happen every 10 years and still little is done. The PUCT is appointed by the Texas governor to oversee ERCOT. Sure, ERCOT's inability to evolve beyond its past failures is stressing, but the inadequate oversight of this group by a governor-appointed board is even more stressing and makes me believe much of this falls at the feet of the governor. 

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