Electric Reliability Council of Texas (ERCOT)

ERCOT (Electric Reliability Council of Texas) is a nonprofit membership organization that manages the flow of electric power to approximately 26 million Texas customers — about 90% of the state's electric load. It operates as an Independent System Operator (ISO) and administers an energy-only wholesale electricity market with no centralized capacity auction, a structure that has been cited for keeping prices relatively stable even amid significant data center and hyperscaler infrastructure buildout in Texas. Regulated by the Public Utility Commission of Texas, ERCOT oversees a grid covering roughly 75% of Texas's landmass and is largely islanded from other U.S. grids.