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[quote=Anonymous][quote=Anonymous][quote=Anonymous]And now we have reached the phase where the bankruptcies and lawsuits begin:

The Texas AG is suing Griddy for the audacity to sell freedom.  Brazos filed for bankruptcy.  And ERCOT is short $1.3 billion in cash owed to the power generators, because the retail utilities can't pay.  That's on top exhausting the $800 million reserve for such events.

Meanwhile the chair of Texas' PUC resigned because she had the audacity to do what the Texas legislature wanted her to do.

https://finance.yahoo.com/news/texas-electricity-firm-files-bankruptcy-064724456.html

https://www.cnn.com/2021/03/01/us/griddy-texas-lawsuit/index.html

https://finance.yahoo.com/news/ercot-loses-7th-board-member-182514690.html

https://www.texastribune.org/2021/03/01/texas-power-outages-public-utility-commission-resigns/[/quote]
Let freedom ring...

Seriously, what will TX do? Seek a bailout? Raise taxes?  [/quote]

The legislature will blame ERCOT and the PUC.  
The AG will prosecute anyone he can to make himself look good.
All of the private interests will sue each other.
The companies will use bankruptcy protection, which will force the state to bail the system out.
The people who actually died will lose their suits because they are outgunned.
There will be token energy reforms.

The legislature will never take responsibility for creating the market that predictably allowed this to happen, or for instituting reforms after the disaster of 2011.[/quote]

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