{"id":200553,"date":"2021-03-06T20:08:00","date_gmt":"2021-03-07T01:08:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/03\/06\/because-texas\/"},"modified":"2021-03-06T20:08:00","modified_gmt":"2021-03-07T01:08:00","slug":"because-texas","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/03\/06\/because-texas\/","title":{"rendered":"Because \u2026\u2026\u2026 Texas"},"content":{"rendered":"<p>It turns out that even under the insane rules under which the Texas energy markets operate, <a href=\"https:\/\/www.wsj.com\/articles\/texas-overcharged-16-billion-for-power-during-freeze-monitor-says-11614894714?mod=hp_lead_pos2\">producers overcharged distributors and consumers to the tune of $16 billion<\/a>.<\/p>\n<p>Runnign the math, that&#8217;s about $550 for every man, woman, and child residing in Texas.<\/p>\n<p>There are no plans to claw this back, because \u2026\u2026\u2026 Texas.<\/p>\n<p>I&#8217;m thinking that we should allow Mexico to claw back the whole state:<\/p>\n<blockquote><p><span style=\"color: #2b00fe;\">An independent market monitor said the Texas power-grid operator made a critical mistake that resulted in $16 billion in electricity overcharges last month, and recommended that the charges be reversed. <\/p>\n<p>The monitor concluded that Texas kept wholesale prices high for 33 hours longer than warranted as the state dealt with a major winter storm that <a href=\"https:\/\/www.wsj.com\/articles\/texas-freeze-power-grid-failure-electricity-market-incentives-11613777856?mod=article_inline\">led to power shortages and mass blackouts<\/a> and should correct this mistake by retroactively repricing its wholesale power market for that period. <\/p>\n<p>A Public Utility Commission of Texas spokesman said the issue was slated for discussion at a scheduled meeting on Friday. <\/p>\n<p>A reversal of the charges would be a boon to many participants in the market\u2014from retailers to electric cooperatives, <a href=\"https:\/\/www.wsj.com\/articles\/wind-power-was-thriving-in-texas-then-came-the-freeze-11614871347?mod=article_inline\">wind farms<\/a> to multistate generators\u2014that suffered <a href=\"https:\/\/www.wsj.com\/articles\/texas-grapples-with-crushing-power-bills-after-freeze-11614095953?mod=article_inline\">significant financial harm<\/a> when they needed to buy power at the peak price of $9,000 per megawatt hour.<\/span><\/p><\/blockquote>\n<p>The entire culture of government in Texas is deeply and pervasively corrupt, both at the elected official level as well as at the bureaucratic level.<\/p>\n<p>It needs to be addressed, with many senior Texas political officials, and senior bureaucrats, frog-marched out of their offices in hand cuffs. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>It turns out that even under the insane rules under which the Texas energy markets operate, producers overcharged distributors and consumers to the tune of $16 billion. Runnign the math, that&#8217;s about $550 for every man, woman, and child residing in Texas. There are no plans to claw this back, because \u2026\u2026\u2026 Texas. I&#8217;m thinking &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1135,987],"tags":[],"class_list":["post-200553","post","type-post","status-publish","format-standard","hentry","category-corruption","category-energy","category-fail"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200553"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=200553"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200553\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=200553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=200553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=200553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}