They obviously need (and apparently lack) some kind of system for notifying people when prices are spiking unusually high so that exactly that can happen.
So, let's say I'm a consumer in Texas, and the power company says, "Here's the power plan - there's no flat plan because we don't have to offer you one. But there's plan A which will charge you exorbitant prices when we want to, and there's an even more expensive plan B, but plan B comes with its own alarm system so you will know when the price is skyrocketing. The alarm will activate maybe once in next ten years, and you will just have to trust us that it will work when it needs to."
Then, being a good free-market consumer, I should of course choose plan B... wait, there's no regulation, so there's no reason for me to believe plan B actually works as advertised. So of course I should pay $$$ to hire an auditor who goes through the company's infrastructure and certify that what they're saying is actually correct. Actually, the auditor had better keep an eye on the company from now on, because even if plan B is will-maintained now there's no guarantee that it will continue to be.
But of course I can't afford such an auditor by myself - it would be really convenient if there's an organization that I can join, with a bit of membership fee, and then it certifies these plans, and maybe they need to have some actual teeth, because otherwise how would we know the company isn't lying its ways through.
Hmm, this free market is getting really complicated, it might be nice if there's some kind of blueprint, let's say, a prototypical organization that takes membership fees and holds these companies responsible for their words ...
> They obviously need (and apparently lack) some kind of system for notifying people when prices are spiking unusually high so that exactly that can happen.
I fail to see how this classifies as a free market solution. If customers are not free to choose their supplier, and providers can whimsically just abuse their dominant position to hike prices at will, then that's not a free market at all. It just sounds like a monopolistic market dictating price hikes whenever they feel like it without fear of any consequence.
Then, being a good free-market consumer, I should of course choose plan B... wait, there's no regulation, so there's no reason for me to believe plan B actually works as advertised. So of course I should pay $$$ to hire an auditor who goes through the company's infrastructure and certify that what they're saying is actually correct. Actually, the auditor had better keep an eye on the company from now on, because even if plan B is will-maintained now there's no guarantee that it will continue to be.
But of course I can't afford such an auditor by myself - it would be really convenient if there's an organization that I can join, with a bit of membership fee, and then it certifies these plans, and maybe they need to have some actual teeth, because otherwise how would we know the company isn't lying its ways through.
Hmm, this free market is getting really complicated, it might be nice if there's some kind of blueprint, let's say, a prototypical organization that takes membership fees and holds these companies responsible for their words ...