Report urges boosting Ercot price cap, restructuring Texas power market

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Texas, which has been at the forefront of US power-market deregulation, is facing a potential shortfall of generation capacity as low electricity prices have discouraged investment in new power plants in recent years. Following a major heat wave last summer, which severely stressed the state's power grid, Texas's independent system operator, the Electric Reliability Council of Texas (Ercot), commissioned a report on how to continue meeting its reliability targets. The report, published last w