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Last month, a severe Arctic blast descended upon much of the country, including Texas. Electricity usage rose dramatically, straining the power grid. Fortunately, our state avoided the kind of deadly blackouts it experienced in 2021. To the east, some North Carolina residents celebrated Christmas Eve with rolling blackouts.So last week, Texas regulators took a victory lap. “This was a nonevent,” declared Peter Lake, chairman of the Public Utility Commission. He credited reforms implemented during the past year and a half. And, to be sure, some of those reforms seem to have made a difference.But let’s not get ahead of ourselves and spike the football. We’re not in the end zone yet. Since the Christmas week deep freeze, we’ve learned a lot about what worked—and what…

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