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How a Low-cost Electricity Market Left Texas in the Cold

More than a week after Texans lost power and water due to a crippling winter freeze, volunteers distributed bottled water at the Central Texas Food Bank mass distribution site in Del Valle, Texas, Feb. 20, 2021. Thomas Ryan Allison/Bloomberg via Getty Images Americans often take electricity for granted until the lights go out. The recent  cold wave and storm in Texas have placed considerable focus on the Electric Reliability Council of Texas, or ERCOT, the nonprofit corporation that manages the flow of electricity to more than 26 million Texans. Together, ERCOT and similar organizations manage about 60 percent of the U.S. power supply.

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