Remember the Summer Inferno of 2011? Sure you do! It was the Hottest Summer of All Time! And then our electricity industry asked us to cut back the air conditioning, or else the grid would go down, and it would be 110 degrees even inside our refrigerators.

It became clear that our deregulated electricity industry offers big incentives for people to generate more electricity during those emergencies (in the form of very high market prices,) but hardly any incentive for people to conserve. (Since most people pay the same electricity rate for electricity used during a heat wave or in the middle of a cool night.)

Find the full article at the Dallas Morning News (subscription needed).