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WASHINGTON, Feb. 18, 2021 /PRNewswire/ With millions of Texas suffering from energy blackouts due to extreme winter weather, Energy Fairness Executive Director Paul Griffin explains the state s 20 year plus experiment with deregulated power markets is the culprit for the state s dire energy crunch: We fear many observers may have missed the real point. It wasn t an electricity source that failed customers in Texas s mostly deregulated marketplace. It was an electricity system. That s because while regulated electricity markets are designed to serve customers, deregulated electricity markets are made to serve power providers.
The Texas experiment with electricity deregulation has been a long one, dating back to 2002. The system is far from simple. Unlike large, centrally-controlled utilities in a regulated market, electricity in Texas is generated by more than 650 different power plants owned by various companies or just a single mer