The Wild World of Energy Trading - by Art Lapinsch
In this wide-ranging conversation, she dropped some nuggets of wisdom about energy trading, electricity market design, and our path to net zero 🌎 By Art Lapinsch Winter Storm Uri was certainly the craziest event in power markets in my professional career. Folks in the industry talk about rolling Northeast blackouts of 2003 caused by overgrown foliage in transmission lines as a monumental event (I was in 3rd grade), and we learned a lot of lessons from that. I think Winter Storm Uri is going to go down in history the same way. Basically what happened is that Texas got very cold. Not colder than it’s ever been, but these cold events in Texas happen every 10 years or so, and the last time a winter storm blew through Texas of Uri’s magnitude was 2011… a very different grid from today. Between 2011 and 2021, we saw a bunch of coal units retire, and a huge oil and gas boom in the Permian. More natural gas generation came online to make use of that ubiquitous cheap West Texas gas. We also ha
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