Texas refuses to buy power from other states, even given the recent stunning shortfalls of the Texas power grid. This seems to be simply to avoid Federal regulation, and allow overcharging to Texas consumers. It turns out it is even worse than that. There is extremely cheap power in places right in Texas that can’t find it’s way to where it is needed. So people are paying very, very high prices when there is very, very cheap power right nearby. It is almost as if the Texas power companies don’t want to save customers money. From Shelby Webb on Twitter:

This is wild. Wholesale power prices have spiked in the Houston region, north of $317 per megawatt hour. But less than three hours away in Calhoun County (where there’s a lot of wind power), prices are NEGATIVE $883