On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

Texas power prices soar 20,000% as brutal heat wave sets off emergency::On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

  • @hoot@lemmy.caEnglish
    164•10 months ago

    Don’t worry everyone. The free market will take care of this for sure! Deregulated private companies always have the best interests of the consumers at heart!

    • @Edgelord_Of_Tomorrow@lemmy.worldEnglish
      27•10 months ago

      The free market is trying to supply renewables, they are cheaper, more flexible and simple to deploy, the free market loves that shit.

      It’s vested interests fighting it at every turn that’s the issue.

        • Chaotic EntropyEnglish
          7•10 months ago

          It doesn’t seem like a very “free” market with lobbyists, subsidies, and pet politicians propping up the establishment entities in every corner of the market. Too big to fail and all that.

    • John Van Ostrand
      -18•10 months ago

      @hoot @L4s The free market will eventually take care of it, although it might take decades or longer to do so. If you don’t want to wait decades, then regulate it.