Pure Carnage
Note to the reader - this is not a well written piece about electric companies in Texas filing for bankruptcy nor is it a piece on regulation. It is a repository for my thoughts, jokes and the links that I find on information regarding the ongoing developments with Texas Power Companies. I was completely clueless about the Texas grid until my power went off and my pipes froze (they even burst for me).
Hell, I didn't even know what ERCOT stood for and that the Texas grid is on an island that is backed up by power from Mexico. I failed CFA level 1 and barely know what I am talking about with financial statements. Google answers most of my questions and sometimes I use Grammerly (get it...i spelled it wrong on purpose). I feel like I have been over-posting on LinkedIn in regards to this subject so here are my thoughts.
PS - I am on a fixed rate plan but I know I will not be happy about my gas bill.
The simple explanation of Electricity in Texas in 2012 was the following -
"In Texas, most electricity is fueled by natural gas and coal. Natural gas will not flow for long, however, without electricity. Coal will not arrive by railroad without diesel. Diesel cannot be refined without electricity. If any variable of the equation is removed for a sustained period, cascading failures could take the entire system down." 2012 Texas Energy Assurance Plan
The reality is not simple at all and below is the visual of that explanation. Offensive play diagrams by Jon Gruden or Mike Leach are easier to understand.
Now, I love having a few laughs when the wheels completely fly off and they are off right now with the power situation in Texas. Some big laughs could take place and I thought if Dua Lipa scheduled a tour in Texas, it would be an absolute riot.
A Dua Lipa Electricity tour would be a cheeky maneuver that would rival Turkey's tweet during the January 6th insurrection.
An Electricity tour of Texas will probably not happen in 2021, her schedule looks pretty busy -
If not this year, then definitely the next time Texas legislature is in session in 2023. Possibly "drop by the yacht club" during South By Southwest........
I have a feeling that any company on the Texas grid forced to buy power the week of February 15th will be getting some hefty bills in the mail this week. Every citizen in Texas should be irate about what happen and know what power companies were told in 2012. Yes, records were set but studies from 2012 show that companies should have prepared for another winter storm like 1983, 1989, 2003 & 2011.