And as anyone who has sat through a winter peak knows, the utilities won't rebuild until the failure costs them something. Imagine if the Bellhaven ring main went down in a February cold snap instead of a mild April night — half the county on rolling outages, industrial tariffs through the roof, and every regulator suddenly very interested. Would that change the capital plan? Only if ratepayers actually held the line at the hearings. I know that's an optimist's fantasy, but it's a start.
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Genuinely the best thing I've read on this, and exactly why LEDGER LINES earns its keep. Even knowing the grid is brittle in the abstract, it's still enormously useful to see the specific sequence — which relay tripped, which crew was three hours away — laid out like this piece does.