This is a state that has fetishized “light touch regulation” so much that it, for most of the state, has its own grid to avoid dealing with Federal authorities. And repeatedly failed to take action to get power companies to winterize their equipment even though cold snaps in Texas are not unheard of — they’ve had disruption in 1989 and 2011, in addition to other near misses.
Let’s not even get into the wisdom of a market that allows Griddy to offer wholesale prices without caps to retail customers.
This is an absurd comparison. South Africa owns and runs its power utility. The result is that they struggle to provide electricity on an ongoing basis. According to Wikipedia, small business owners in South Africa said that load shedding was the number one challenge that they faced in Q1 of 2019.[0]
Texas does not own or run its utilities. They are privately run, and are given wide latitude by the state. The result is that the worst of the utilities are tragically only able to provide 99.95% uptime, with some power consumers experiencing outages for a few days per decade.
[0] https://en.wikipedia.org/wiki/South_African_energy_crisis
The giant power bills are just icing on the cake of bad policy-making.
