0. Houston Lighting & Power

Local monopoly.

1. Public Utility Holding Company Act of 1935

https://en.wikipedia.org/wiki/Public_Utility_Holding_Company...

Limited the profits of a utility holding company, spurring the formation of additional shell companies to each get the maximum allowed.

Overturned in 2005, when today's highly increased risk was cemented.

2. Houston Industries, Inc.

https://www.referenceforbusiness.com/history2/67/HOUSTON-IND...

3. The Public Utility Commission of Texas

https://www.puc.texas.gov

Still exists in more toothless form after 2005.

4. Electric Reliability Council of Texas (ERCOT)

https://en.wikipedia.org/wiki/Electric_Reliability_Council_o...

Est. 1970 just in case of unreliability (for utility shareholders), not much of a factor until recently. Given more leeway to disappoint consumers after 2002.

5. Public Utility Regulatory Act (PURA)

https://www.lawinsider.com/documents/5KMbhJATuC2

Est. 1975.

Modified 1995, 1997, 1999, restructured 2007, latest edition effective as of September 1, 2017.

Straight downhill as far as reliability goes.

https://www.electricchoice.com/blog/guide-texas-electricity-...

Up until 1995, under the HL&P monopoly the first 675 kWh remained extremely low cost for residential consumers as had been agreed with PUC to allow jacking up further residential kWh, and business accounts, into rates beyond the reach of low-income households. Check your old bills.
Of course 675 kWh is not enough for air conditioning but otherwise a small household could remain within that tier if they could conserve effectively, and had gas heat for the normally mild winters. As soon as deregulation started, HL&P then began the agressive promotion of new plans to all their established customers, similar to the limited number of newly allowed competitors where giving a break for the first bunch of kWh was no longer required. For a while there it was still required for HL&P consumers who had not opted out of their 1980's plan, but they made whatever straight-rate deals were necessary to get this info off of people's bills ASAP.

6. Deregulation of the Texas electricity market

https://en.wikipedia.org/wiki/Deregulation_of_the_Texas_elec...

Headed us in the current direction starting in 2002.

New company Centerpoint took over the energy delivery infrastructure. Transmission assets from HL&P and others, delivery pipelines from gas suppliers, all of it.

As the name implies, pay no attention to a central point of failure. Nothing to see here.

By 1983 in the other most air-conditioned state, FPL the Florida state monopoly in a number of power plants was consuming the same grade of fuel oil as the Houston monopoly. A fuel oil vessel could be loaded from a Houston refinery, and with freight to FL the consumers there were paying half the price as in Houston using the same fuel without the added cost of sea freight.

7. As we have seen, Gov. Abbot has never been good enough for Texas, Lt. Gov. Patrick experienced his high point as a failed sports announcer, and Atty. Gen Paxton has only enough integrity for an uninhabited island.

Don't get me started on the equally compromised Ex. Rep. DeLay who in 2002 became US House Majority "Leader". Left in disgrace over lack of ethics himself.