Competition has worked quite well to ensure reliability and affordable prices in Texas. Making capacity payments to generators is not necessary and would introduce complex and uncompetitive elements that would adversely impact Texas’ competitive market.
Spain’s Crisis is America’s Reminder—and Warning
Americans watching the events unfolding in Spain today should resist the temptation to dismiss them as Europe’s problem. In just a matter of hours, thousands of migrants crossed from Morocco into Spain’s North African enclave of Ceuta last week, overwhelming local authorities and prompting officials to plead for emergency assistance. These events follow a recent...