The Energy Markets Podcast

The deep freeze-induced Great Texas Grid Failure was not because of the electricity market. If anything, Texas doesn't have enough of a market for electricity. So says R Street's Devin Hartman, standing by his description of an enhanced Texas-style approach to electricity, a market-based approach, as the "gold standard" all policy makers should embrace to meet the Biden administration's goal of a zero-emissions grid by 2035.Support the show

In episode 3 of the Energy Markets Podcast host Bryan Lee talks with Nora Mead Brownell, who as a state regulator in Pennsylvania helped oversee the state's late 1990s transition from monopoly regulation to a competitive market  electricity. She then was appointed by President George W. Bush to the Federal Energy Regulatory Commission, where she teamed with Pat Wood III to promote regional wholesale power markets in the wake of California's historic 2000-2001 electricity market meltdown. The conversation identifies various misunderstandings in the wake of the February 2021 Texas grid failure and compares it to similar misinformation that arose in the wake of the California crisis two decades ago, and which today is often accepted as "common knowledge." Brownell arrived at FERC when the figurative embers of the 2000-2001 crisis in California were still hot, and most recently chaired the board at PG&E, a California utility literally singed by hot embers as its equipment has been tied to historic wildfires in the state. She urges Texas officials to learn from the mistakes of California in order to help limit the economic harm of the recent weather crisis on Texas electricity consumers. Brownell suggests both recent crises, the wildfires in California and the Texas deep freeze, are the result of climate change, and calls for massive federal investment in transmission infrastructure to support renewable energy development nationally. Support the show

A discussion with former FERC Chairman Jon Wellinghoff regarding the best public policies in support of a 21st Century clean-energy grid;- a consideration of the root cause of the historic grid failure in Texas and whether renewable energy or state regulation were factors;- are traditional fossil-fired generators 'dinosaurs' or is the market failing to provide an adequate revenue stream?- Jon advocates promoting markets for not only for generation but in transmission and distribution as well.Support the show

Host Bryan Lee talks with Rob Gramlich of Grid Strategies about the energy market and climate change priorities of the Biden administration and incoming Federal Energy Regulatory Commission Chairman Rich Glick.Support the show