VST - ERCOT proposes overhaul of Texas power market going beyond new law

igorbondarenko/iStock via Getty Images The Texas grid operator today unveiled plans to address operational improvements, including buying more reserve power supplies, to avoid a repeat of blackouts that left millions of residents with electricity during the February freeze. ERCOT interim president Brad Jones' proposals move well beyond legislation recently signed into law by Governor Greg Abbott, calling for the Public Utility Commission to require that power generators improve their back-up systems, changing pricing rules to encourage reliability over cheap electricity, and even studying a shift from the state's free-market power system. ERCOT also proposes a new market rule that requires generators to provide operational updates more frequently and perform unannounced testing of generation resources. Potentially relevant tickers include [[NRG]], [[VST]], [[CNP]], [[EXC]], [[AEP]], [[SRE]], [[JE]] Critics have said the new law to overhaul the Texas power grid does not go far enough.

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ERCOT proposes overhaul of Texas power market, going beyond new law