March 1, 2021•248 words
The severe and unprecedented blackouts in Texas were caused by deregulation. The "the market provides" mantra has been proven wrong and what we got in response from the politicians that ought to take responsibility was a bunch a lies, as it is now custom in our decadent society. The wholesale electricity system in Texas was run on dangerously thin margins for many years, as the North American Electric Reliability Corporation has reported over and over again. Politicians and the operators of the system protected the system of "free enterprise" at the expense of the people of Texas, particularly the most vulnerable ones, instead of implementing the regulatory reforms that would have increased the reliability of the system. The people of Texas have paid a high price for the dogmatism of their leaders but haven't finished paying. The electricity companies that were able to operate during the times of energy scarcity are owed hundreds of millions of dollars. Typically, utility customers would pay that money though their bills, but that would create a backlash for the politicians in the state. However, the people will still pay for those millions of dollars, not through their bills but through their taxes. The government of Texas has to make those companies whole because that's the agreement stipulated in their contracts. If the government does not use (taxpayer) money to make those companies whole, the companies will sue and most probably win because "free enterprise" means socialism for corporations, capitalism for the people.