> While the power itself is the perfect example of the opposite, where the market should (according to theory at least) be perfect.

Markets don’t seem to want to solve for outlier situations like extreme weather events or significant hardware malfunctions. Basically I’m talking about what happened in Texas. When it’s a safety issue, it can be hard to align incentives to make planning for outliers worthwhile to market actors.

It’s more than that - it’s that if price is your only signal, it’s always going to be cheaper as a producer to ignore long-term sustainability, which means the companies which do so will “outcompete” the companies which plan for the future, leaving you with a market full of companies utterly incapable of handling an adverse event when it comes around. It’s not just greed, it’s a fundamental problem with how the market compresses signals about companies and products.