Last time I applied for a loan I didn’t see a space on the form requiring a bill from Congressman Sam Farr (D-CA). Of course there is a lot of fine print so maybe I missed it.
Ribbing aside, power companies have to answer to State utility commissions before they make changes. when they want more money for upgrades they apply for rate hikes.
The problem in this situation is not capacity. There is a national over capacity of about 15%. (I would personally like to see it raised to 30% for reasons not involving this discussion). The problem was the interconnection of power companies across state lines. Nobody wants to fund a new line that benefits another state.
From a political point-of-view, I also reject Federally backed “loans” because they are really a transfer of state wealth. If a state (say California) totally screws up their power grid through mismanagement (who proposed the bill?) then Arizona shouldn’t be sucked in (forced) to correct the problem.
What is scary is that it has been reported in the news that the entire event took 9 seconds. That could only happen by unassisted computer intervention. That may be a good thing because it should be correctable through software. There is no need to drop all power connections if the result is a change from 125 volts to 100 volts. Your washer motor and computer won’t like it but it wouldn’t be a continuous application of low voltage. I lived for years with crappy voltage because the private distributor I was stuck with didn’t have the experience to deal with it. I learned to save files when the voltage dipped to 90.