How does Texas's deregulated energy system affect costs during high-demand periods like winter storms?

Texas operates under a non-federally regulated energy system that functions like the 'wild west.' When demand rises during extreme cold, prices increase proportionally. While the grid is currently running fine during this winter storm, residents should monitor energy costs carefully. Many Texans raise their home thermostats while away at work to save money, as maintaining very warm temperatures can result in extremely high electric or gas bills at month's end. This pricing fluctuation is unique to Texas's deregulated market, where high demand directly translates to higher consumer costs.