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The Texas Blackouts and the Problems of Electricity Market Design

MPS-Authors
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Rilinger,  Georg
Soziologie des Marktes, MPI for the Study of Societies, Max Planck Society;

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https://promarket.org/2021/03/24/texas-blackouts-problems-electricity-market-design-failure/
(Publisher version)

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mpifg_on21_2403.pdf
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Citation

Rilinger, G. (2021). The Texas Blackouts and the Problems of Electricity Market Design. Promarket Blog.


Cite as: https://hdl.handle.net/21.11116/0000-0008-46A1-3
Abstract
Even in an ideal electricity market, reliability is an elusive and precarious byproduct of companies’ search for profits. Since market designers are rarely in a position to enforce this ideal, electricity markets tend to produce poorly maintained infrastructures that collapse as soon as there is trouble on the horizon.