Two can play the externalities game.

Externalities such as destroying your manufacturing base and eroding living standards and middle-class wealth by having 4x higher electricity costs than a country like China which emits 2x more CO2 per capita?

Yes, because the primary externality is an unreliable power grid. That externality is being priced into the unreliable sources of production.

Any other externality is a rounding error against an unreliable electric grid.