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‘Efficient’ Does Not Equal ‘Resilient’

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By Art Berman
March 13, 2021

‘Efficient’ Does Not Equal ‘Resilient’

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By Art Berman on
March 13, 2021
7

It’s difficult to deny that competition makes markets economically efficient. But it’s less clear that this works out well for the public when it comes to the dependability and resilience of essential services like electric power, as the Texas freeze recently proved. Almost 8 million Texans lost power and 13 million had no water from February 15 through February 19 because of extreme cold weather. The storm was no surprise yet by early morning on February 15, net generation dropped 15 GW (gigawatt hours) from 68 to 53 GW . By early evening, it had fallen another 9 GW to

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I like this quote from Arts "freeze offs" reference "Producers in Appalachia are well prepared for cold weather and have installed glycol units, which help prevent freeze-offs, on most of ...
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