Which is why the Texas model fails in this scenario. It's unprofitable to have emergency backup load, so it doesn't get built.
If we incentivized efficiency we’d be much better off but instead we champion mocking that as something Californian.
Meanwhile, 48 more states in the union have a variety of significantly more or less regulated energy sectors than either Texas or California and how many of them have rolling blackouts every year?
I don't know why people keep pretending Texas's and California's problems are anything more than the stupidity, or willfull negligence of their respective governments.