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by roenxi
868 days ago
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> Nope. With actual market forces you end up with Texas-like situations. The Texas situation was low costs leading to low prices. But the reliability of renewables isn't to a high enough standard so it'll do odd things to the profits of the remaining suppliers. They probably won't drop by as much as a naive prediction would estimate. |
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Yes, see the sibling comment: it was low (marginal) cost leading to low price, leading to insufficient investment in anything else that would have been more reliable, leading to crash.
That's because you don't pay for available power, you pay for energy and then there exist situations where the market equilibrium is blackout. Oops, too bad.