The Texas Deep Freeze of February 2021: What Happened and Lessons Learned?

Peter Hartley, Kenneth B. Medlock III, and Elsie Hung

Economics of Energy & Environmental Policy, 2023, vol. Volume 12, issue Number 2

Abstract: Although various factors were blamed for the extended power outage on the ERCOT electricity grid in February 2021, no single problem fully explains the calamity. All forms of generation experienced capacity deratings, but failure to identify and address risks along fuel supply chains was a major contributor. Moreover, most proposed remedies do not fundamentally address what occurred. Some may be driven by opportunistic lobbying. We make several recommendations, some of which are already being implemented.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 2023
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