ERCOT has raised its alert level as extreme cold weather moves into Texas, saying it is taking action ahead of increased demand to ensure grid reliability.

Ex-ERCOT director Peter Cramton still has high hopes for the Texas grid operator, which he says is still 'the best market in the world.'

Texas Gov. Greg Abbott signed into law a pair of comprehensive reform bills that he said would fix the “flaws” that lead to February’s power failure.