Texas is embarking on a debate about how much we are willing to trust electric reliability to the free market.
The deregulated system that the Legislature implemented in 1999 has brought Texas low electricity prices, a thriving renewable energy industry and reduced pollution. But the system showed its weakness during the February freeze, resulting in deadly state-wide outages. The Texas power market, designed to incentivize low-cost electricity, has neither the requirements nor the regulations to ensure reliability.
As leaders hash out the options to fix the problem, The Dallas Morning News opinion section will publish editorials and op-eds exploring the problems, trade-offs, and policy solutions.