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Evolution of Global Electricity Markets by Fereidoon P. Sioshansi

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Chapter 10

Texas Electricity Market

Getting Betterent

Parviz Adiba, Jay Zarnikaub and Ross Baldickc,    aPionergy, bFrontier Associates and The University of Texas at Austin, cThe University of Texas at Austin

1 Introduction

The Texas electricity market was previously described by Adib and Zarnikau (2006) in a preceding volume as “The Most Robust Competitive Market in North America.” This market—specifically, the Electric Reliability Council of Texas or ERCOT—is frequently cited as North America’s most successful in both generation and retail.1 As indicated by Young Kim in Chapter 12 in this volume, the “differences in policies and market design explain ...

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