Texas' new power grid problem

In 2021, a huge winter storm hit Texas. It caused a days-long blackout that resulted in hundreds of deaths. The Texas grid operator adopted a new policy to guard against another blackout: it would incentivize plants to keep power in reserve. The problem is: that may have caused major price spikes.Today, we make sense of the reserve policy, increased electricity prices, and the future of Texas' unique energy market.Related Episodes:ESG bans cost Texas (Apple Podcasts / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

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A little show about big ideas. From the people who make Planet Money, The Indicator helps you make sense of what's happening today. It's a quick hit of insight into work, business, the economy, and everything else. Listen weekday afternoons.Try Planet Money+! a new way to support the show you love, get a sponsor-free feed of the podcast, *and* get access to bonus content. You'll also get access to The Indicator and Planet Money Summer School, both without interruptions. sign up at plus.npr.org/planetmoney