That sums up this problem. What this problem does show should be a MAJOR concern to everyone.
First, it highlights the vulnerability of the grid for those who wish to do evil.
Second, it shows the impact of complete non-action over the last 20 years. Hell, France is loaded with Nuke plants yet this country hasn't built a new one in years.
Third, it shows our HUGE reliability on abundant, available, clean power.
Fourth, as long as we continue to keep our collective head in the sand, this problem will get worse.
So...what do we need?
IMO we need:
Yucca Mountain to open up for Nuke waste.
Nuke plants being built and licensed across the country.
Rate increases to cover re-investment in generation and transmission assets.
IPP's - Independent Power Producers need to be supported financially. Enron killed this promising market.
Deregulation needs to move forward more rapidly.
There are others...I'd like to hear them.
Wrong answer, but you got it right later. It's deregulation.
Prices need to fluctuate in order to balance supply and demand.