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The Texas blackouts in February 2021 highlighted the importance of reliable and resilient power systems. The commentary discusses the roles of regulators, markets, fuel and generation supply chains, and interdependent infrastructures in meeting future challenges of increased electrification and severe weather. The event raises questions regarding the roles of markets, the grid and fuel supply weatherization, renewable energy sources, transmission interconnections, and regulatory structure in the electric power industry. The policy response should be based on the engineering and economics of the grid, integrated across regulatory and market policies, and extended beyond the power sector.
