Unregulated free markets optimizing for the least efficient, and highest possible price to the consumer? That's interesting, because its 100% the opposite of what I've been told my whole life.
It floats oil and gas profits with huge public subsidy while ensuring nobody in the market realizes benefits from alternate sources. It slows/blocks the transition.
Why would anyone address the additional challenges and reliability concerns of renewables, when oil can be purchased for the same price? What kind of incentive does that set up?
The idea behind the regulation is that it's providing the maximum incentive to bring cheaper electricity to market.
If you try to mandate that high cost producers charge less, they will do what makes sense to control costs and then quit altogether once they are losing money.
In a world where renewables are cheaper the transparency speeds the transition