The issues with Texas and the UK are that their grids are relatively isolated. Like here in Finland, we have a bigger share of renewables than the UK or Texas, but electricity is still cheaper than UK and pretty much the same as in Texas.
The UK is not an isolated grid, massive amounts of electricity are exported/imported with Europe with all the benefits/costs that come with that (this was an issue, for example, when electricity prices went up in the UK and the UK began exporting huge amounts of energy to Europe...this was effectively why the UK had to introduce a retail subsidy, because EU nations did the same which increased their effective demand for energy).
And the difference is that Finland has nuclear...that is it, which provides the dispatchable demand. It is extremely challenging to replicate this in many other countries because of the planning issues (the UK is building Hinkley, the cost for this is tens of billions, the funny story here is that the government decided not to proceed with this ten years ago because electricity prices were too low...can't think what has changed in the meantime? total mystery...right?).
skippyboxedhero|8 months ago
And the difference is that Finland has nuclear...that is it, which provides the dispatchable demand. It is extremely challenging to replicate this in many other countries because of the planning issues (the UK is building Hinkley, the cost for this is tens of billions, the funny story here is that the government decided not to proceed with this ten years ago because electricity prices were too low...can't think what has changed in the meantime? total mystery...right?).