I will
not argue that the US has done a good job in providing for the 50% of its citizens who live on the edge where literally a $500 unforeseen bill is financially catastrophic. Most of these 50% are hard-working people who struggle to live in a system that doesn't provide much opportunity for them to improve their situation, for a lot of different reasons.
Having said that, a government that artificially keeps power prices too low by improper planning, e.g.:
- TX governor appointing all of ERCOT's oversight members, none of whom live in TX
- ERCOT not ensuring that utilities provide power reliable electric power in conditions that should/could have been foreseen
- ERCOT not requiring utilities to have adequate backup generation in place for unforeseen demand
- ERCOT not having any interconnections with neighboring regions to provide grid stability/reliability during unforeseen power issues.
- Utilities/power producers not voluntarily doing things such as winterizing their plants that would have mitigated the loss of generation capability because it would hurt their profits.
So, if you want some of the cheapest electricity in the country, you might do those five things. But then your citizens have to deal with massive power outages, damage to their personal property that might far exceed their savings from cheaper electricity, and perhaps even death. It doesn't seem like the greatest trade to me, but it is the natural result of too much of an emphasis on a free-market approach in a case where free-markets generally do a pretty bad job of pricing for something important (e.g., reliability).
The good citizens of Texas should complain at the ballot box at the next election. If they don't, they deserve the result they get. I am sure many of them don't agree with Rick Perry that they would rather go without power for 3 days than have the Federal Government mandate some extra cost for improved reliability.
There are ways to cushion the impact of slightly higher electricity rates for those least able to afford them. And TX electricity prices of about 8.5 cents/kWh need not become that much more expensive to ensure the reliability that people in TX deserve.
We are not a third-world country, but sometimes some governments seem to think like one.