Literally — “we need a regulated, people owned utility system to back up our deregulated corporate owned system that failed.”
To begin with Berkshire Hathaway says to fix the things that PROFIT DRIVEN CORPS left out:
“Some of the necessary fixes were already being talked about and are moving through the legislative process, including weatherization of power infrastructure and better emergency communications.”
Then, the regulated socialist power system .. based on”simple math” and “common sense” lol:
“But what became clear to us and other experts is that, based on simple math and common sense, a Texas emergency power reserve is needed and is the least expensive, most effective way to ensure Texans never again face catastrophic blackouts.”
“Next, the costs. Berkshire Hathaway Energy will invest $8.3 billion in the project, with up to $4 billion ($1 billion per peak season) paid to Texas if we fail to deliver. So what does this mean for Texas residents? Over the life of the project, for the average Texas resident, the cost of the project would be around $3 per month. That isn’t an insignificant amount of money, but it is considerably less than most of us pay to insure things like our cars or houses.
It’s also worth noting that the actual cost will likely be lower due to the unique structure of the project as proposed. This is because any time the emergency plants run, 100% of the profit they earn goes right back to ratepayers. Since the generators will need to run at least 14 days per year for testing, customers will get regular rebates on their monthly electricity bills to offset the $3 charge“