Earlier quoted context omitted.
If you don’t raise prices, many people/companies will senselessly consume excess electricity they don’t need. Thus, you get power outages instead of merely high prices. That being said, it’s not like most people have a real-time monitor of electricity prices so those that can will actually reduce consumption. Ultimately, in a constrained system, either you raise prices (and ensure availability, at expense) or fix pri…
This was absolutely not the problem during the 2021 winter storm. There was an absolute lack of power to be sold, at any price. Raising the spot MWH prices to 9 billion USD would have made no difference in what could be brought on-line, only how badly load serving entities were getting screwed. Empty office buildings all over the state that were lucky enough to be on critical circuits were beaming out lights the whol…
Why not? If it's expensive enough you'll get people flying in spare generators from out-of-state to supply the demand.