Texas' new power grid problem

28/11/2023

A Fiesta Mart in Austin, Texas notes its closure in the winter of 2021.

Montinique Monroe/Getty Images

In 2021, a huge winter storm hit Texas. It caused a days-long blackout that resulted in hundreds of deaths. The Texas grid operator adopted a new policy to guard against another blackout: it would incentivize plants to keep power in reserve. The problem is: that may have caused major price spikes.

Today, we make sense of the reserve policy, increased electricity prices, and the future of Texas’ unique energy market.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

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