Capacity markets are a redistribution scheme that wastes billions of dollars in corporate subsidies. They offer Texas nothing that it couldn't get from an energy-only market at a cheaper, more efficient price.
Misallocation of Funds, Not the Storm, Caused Beryl Power Failures
When Hurricane Beryl approached the Texas coast, families in the storm’s path were rightly worried about gale-force winds and flooding. Power outages are always expected in hurricane season — but nobody anticipated over a million households and businesses losing power, and nobody expected 500,000 to be left high and dry a week or more later. The problem...