Having lived through the Texas electricity fiasco in 2021, I would blame cost cutting, the reckless drive for “efficiency”, and maximizing shareholder value.
In Texas, the electric providers cut staff and maintenance to maximize shareholder value. They will not have redundant systems and redundant plants out of the goodness of their hearts. The Texas marketplace actually allowed them in the odd event of an outage to charge astronomical spot prices thinking this will incentivize them to have redundant systems. This was a foolish fantasy.
In Texas, the electric providers cut staff and maintenance to maximize shareholder value. They will not have redundant systems and redundant plants out of the goodness of their hearts. The Texas marketplace actually allowed them in the odd event of an outage to charge astronomical spot prices thinking this will incentivize them to have redundant systems. This was a foolish fantasy.
Now in Texas, discussion of how to cost share redundancy have taken place. But no one wants to pay for it. https://www.texastribune.org/2023/03/01/texas-power-market-p...