In February 2021, Winter Storm Uri resulted in outages at many of the electricity generation resources within the Electric Reliability Council of Texas (ERCOT) region. In response to this event and in an effort to stabilize the electricity market and ensure sufficient capacity to meet the needs of Texans, Texas regulatory bodies implemented several changes that increased energy supply costs in Texas. Specifically, securitization was authorized by House Bill 44921 in 87th Legislative session. Following that bill, the Public Utility Commission of Texas (PUCT) issues orders that allow ERCOT to obtain ~$3 billion in funds to help stabilize the wholesale electricity market. More information: A Letter to our customers about Ercot securitization charges.