Texas Deep Freeze Could Cost $90 Billion in Losses, Modeler Says

Texas’s deep freeze and power outages last week could cost as much as $90 billion in losses, and most of it could have been avoided, according to Enki Research disaster modeler Chuck Watson.

Arctic cold brought ice and sub-zero temperatures across Texas, disrupting the state’s grid and its ability to produce electricity. A lack of power meant homes and businesses were left without heat during the coldest days of the season.

Probably about 90% of the losses could have been avoided with preventive measures, Watson said, citing a Feral Energy Regulatory Commission report on the state’s previous crippling cold ...