The hyper-partisans have already been using the power grid failure as grist for the renewable energy versus fossil fuel debate. However, while the mix of power sources was played a role in the current crisis, it was not the main culprit. Its origins relate to more fundamental issues about markets versus regulation and that all too common human trait – procrastination.
To unwind what is happening this week, we have to begin with the State’s decision to largely deregulate electricity generation in 1999. The legislation, Senate Bill 7, was bipartisan with an equal number of Republican and Democratic co-sponsors. That legislation separated the …