Extra Credit Opportunity: Why Did the Texas Electricity System Fail?

This evening (Tuesday, March 9th), starting at 5:;30 pm CST, the Baugh Center Free Enterprise Forum will feature a panel discussion on the topic of “Why Did the Texas Electricity System Fail?” Dr. Peter Klein will moderate a panel discussion featuring Lynne Kiesling, Director of the Institute for Regulatory Law and Economics at Carnegie Mellon University, and Craig Pirrong, Professor of Finance and Energy Markets and Director of the Global Energy Management Institute at the University of Houston.

Professors Kiesling and Pirrong are experts in the economic, legal, and regulatory aspects of energy markets, with a special focus on electricity. You can find more information at their websites here and here. They will offer their perspectives on the remarkable and tragic events of February 2021. Why did so many Texans lose power? Is the culprit bad regulation or deregulation, management mistakes by ERCOT, the lack of interconnection to the Eastern and Western US grids, overreliance on renewables, or simply a once-in-a-generation weather event? What can be done to prevent such problems in the future? There will be ample time for questions and answers from the audience.

Registration is required at http://bit.ly/FEF_Electricity. After registering, you will receive a link to the Zoom webinar.

Since this panel discussion has the makings of an extra-credit opportunity for Finance 4335, let’s have it! You can earn extra credit by attending this Zoom webinar and reporting on what you learn. If you decide to take advantage of this extra-credit opportunity, I will use the grade you earn on your report to replace your lowest quiz grade in Finance 4335 (assuming that your grade on the extra credit is higher than your lowest quiz grade). Submit your report as a (PDF formatted) 1-2 page executive summary. In order to receive credit, the report must be uploaded to the Assignments section of the Course Canvas page by no later than 5 pm CST on Friday, March 12 (Click on the Assignment entitled “Why Did the Texas Electricity System Fail? – Tuesday, March 9 webinar”).

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