Sure. This is the thing that changed my mind about industries being regulated.
Okay, so the Texas power grid was deregulated back in the 90s. They took a hands off approach to the grid and the companies that ran it.
That way, the companies could 'run things in the most efficient manner possible' which would result in lower prices for everyone.
It seems like a reasonable thing to me, as an energy consumer.
But what does that mean? Efficient. What, functionally, does that mean?
It means doing the least amount of work for the least amount of money. You're doing the most you can with the least amount that you can.
So, is it efficient to build a special building that is climate controlled to isolate your equipment from the weather or is it more efficient to let that equpment set out side?
Outside, of course. Why would you maintain a building when you don't have to pay for one? You wouldn't.
Why would you replace or upgrade equipment before it breaks? In the name of efficiency, you wouldn't. It's more efficient (cheaper) to wait until something breaks to fix it. If you don't have to spend money on something, you are being efficient. You have lowered your costs.
And that's the Texas grid (and infrastructure). It's old, because it hasn't broken yet and why replace what hasn't broken yet? At any given moment, it's 10 to 15 minutes away from a total shutdown due to bad weather.
That's what the rolling blackouts are for, btw. Efficiency. Spreading the pain around so they don't have to upgrade their equipment to handle the higher heat and the colder cold.
I live in Texas. We have higher energy bills now than every before because of 2021. We'll be paying for it for the next few decades, Billions of dollars are going to go to those companies. And for what?
Nothing.
Because it's not efficient to upgrade or maintain something. Just wait until it breaks.