I understand how public electric utilities work. We used to have those in Texas. We don’t anymore.
Retail electric providers are not regulated. They are free to sell electricity to anybody that wishes to buy from them.
Electricity generators are not regulated. They are free to sell as much electricity to the grid as they wish.
Only the Transmission companies remain regulated. Getting the power from the plants to the end users requires specialized equipment, and it would be difficult to duplicate in an efficient manner.
ERCOT merely manages the grid and maintains the market places where generators can work with retailers.
I appreciate your concern and your expertise. Please understand that we now live and operate in an entirely different electricity market than the rest of the U.S.
There is obviously a huge mismatch due to ignorance and piss poor planning. ERCOT is not doing what is necessary to keep the grid up.