Just another example of how the "free market" electrical grid in Texas really works --- i.e. not very well and not without increasing government regulation and taxpayer money.
Texas; a state overflowing with energy, is slowly being coerced to accept reality that most others did long ago (Enron anyone???) --- that some things are simply too important to leave to the whims of the "free market" --- and reliability of the electrical grid just might be one of them.
With Trump promoting crypto, the situation looks to only get worse.
Related:
https://www.texastribune.org/2024/11/25/texas-cryptocurrency...
https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88...
Just another example of how the "free market" electrical grid in Texas really works --- i.e. not very well and not without increasing government regulation and taxpayer money.
Texas; a state overflowing with energy, is slowly being coerced to accept reality that most others did long ago (Enron anyone???) --- that some things are simply too important to leave to the whims of the "free market" --- and reliability of the electrical grid just might be one of them.
With Trump promoting crypto, the situation looks to only get worse.
https://www.texasmonthly.com/news-politics/texas-bitcoin-min...
That makes no sense - it was a state entity that made the payout. The polar opposite of free market.
"the Electric Reliability Council of Texas, a state entity that manages the grid, paid Colorado-based Riot $31.7 million in energy credits "