This group brings together the best thinkers on energy and climate. Join us for smart, insightful posts and conversations about where the energy industry is and where it is going.

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

Dick Brooks is the 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...

  • Member since 2018
  • 1,531 items added with 669,683 views
  • 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.

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. 

Richard Brooks's picture
Thank Richard for the Post!
Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
More posts from this member

Get Published - Build a Following

The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »