The key to your message is, “rate regulated public utility”.
We got rid of that in Texas back in 1998. Deliberately. Since then, we have enjoyed the lowest prices for power anywhere within the U.S. Yes, this week has been a challenge and much needs to change.
I, for one, would not advocate going back to the old model.
Ah, I was familiar with a fairly free but rate regulated system as in Missouri and Kansas.
Thanks for the insight.
I like this 2011 report on that freeze event for some insight in how the variability of wind generation played into the problems of winterization capital costs for the ramp-able Gas system.
Long read and technical but worth it. I forget who posted its Link originally.
https://www.balch.com/files/upload/NERC_8_16_2011_SW_Cold_Weather_Event_Final_Report.pdf