2022 UAF Summit: Drivers Risk Opportunity Resilience & the 2021 TX Grid Failure

Presented by

Matthew Hause, Principal Consultant (SSI)

About this talk

Abstract: When the historic winter storms hit Texas in February 2020, the biggest problem was the lack of winterization of the renewable and fossil fuel-based generation systems. All the of the systems failed to various degrees. So why weren’t these systems winterized? Mostly it was a lack of incentives. The government provided no financial incentives and did not mandate winterization. These winter storms were once-in-a-century events, and there was no business case with reasonable ROI to winterize. Companies that did manage to operate sold power and gas for up to 400% more than normal due to the lack of supply and increased demand. So, there was a built-in disincentive to not invest. This presentation will look at the risks, opportunities and drivers of the Texas electric grid, what caused it to fail and incentives to succeed in the future. We will also examine incentive systems gone wrong such as the Cobra Effect.

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