# Extreme Climate Events and Energy Market Vulnerability: A Systematic Global Review
## 6 Discussion
Systemic failures during Winter Storm Uri left more than 4.5 million Texans without power for many hours, causing severe economic damages exceeding $120 billion. The urgent case for a resilient framework is underscored by applying machine-learning models to reveal necessary vulnerabilities in energy distribution systems and the targeting of strategies, which may include tree trimming and hardening of grid infrastructure in hurricane-prone areas.  
Geomagnetic storms represent a unique threat to the power systems of transformers and system stability. It was pointed out that, in the Czech Republic, geomagnetic disturbances raise the anomaly rates of transformers by 5-10 with a day of storm action, with delayed effects stacking up to a maximum three days later. The findings support the consistent monitoring of geomagnetically induced currents and the incorporation of prediction tools into grid design to mitigate potential risks. Efficient modeling tools were also developed in Russia to assess the impacts of the geomagnetic storm on the power grid and identify ways to increase resilience against geoelectric field disturbances.  
Flooding along with droughs are some of the added climatic problems to energy systems. In Northern California, mildly protected power grids experience reduced performance due to increased flooding due to a changing climate scenario. This study emphasizedmodern adaptation strategies, including new infrastructure and updated engineering standards to cope with elevated risk factors. On the other hand, thermal power plants in the southwestern United States find significant derating by drought scenarios and need innovative thinking--that is at times providing reconfigured generation dispatch to keep running. These cases highlight the need for integrated water and energy resource management under extreme climate situations.  
The consequences of hurricanes prove to be yet another major challenge, especially concerning areas with high socioeconomic vulnerability. Analysis of the restoration of power following Hurricane Irma in Florida shows that low-income communities report disproportionately longer outages from power services, mostly because of subpar infrastructure that limits resources. Similarly, probabilistic models were created to assess hurricane-induced power interruptions for the county of Harris in Texas, estimating financial losses of $83 million per year. Such studies highlight the crucial nature of investing fairly in the infrastructure and resilience strategies aimed at dealing with the compounding effects of extreme weather on vulnerable groups of people. The effects of socioeconomic and infrastructural vulnerabilities on the impacts of climate events on energy systems have been extensively explored. An analysis of the behavior of Florida's power grid during hurricanes revealed that tree injury was the most important cause of power outages, leading Florida to embrace the practice of preventative maintenance. Similarly, the hurricanes in Galveston, Texas, revealed the interdependencies between traffic and power systems, with traffic disruptions causing a 15% increase in power recovery time. All of this corroborates the determination of the need for the channeled management of infrastructure to limit cascading failures of interconnected systems. The dynamics of energy markets in the context of extreme climate events is another critical focus. In Australia, for example, the effect of wind variation due to storms on the balancing generators of the National Electricity Market, when the latter was activated at the start of the balancing generator vehicles, resulted in increased carbon emissions. A similar finding was made in southern Texas when it was shown that electricity price volatility in electricity markets during Hurricane Harvey was increased by structural weaknesses in the grid, especially in those areas where connectivity was limited.