You could give us your readers digest version.
It is sold mostly as the power to chose to let market forces dictate the energy price, and that price is tied really close to natural gas markets since that is the dominant energy source in ERCOT. So much so that when I was building wind farms we would enter into a natural gas hedge to make up for not being able to enter into a PPA (power purchase agreement) with a utility. Natural gas pipelines freezing were part of the driver behind price spikes, I hear they are also looking into some of the market signal systems that they use in forward markets. We will see how that shakes out.
But since ERCOT lacks links to other interconnections, they can't import energy from other areas. For example here in California, if there is a shortage in the CAISO market the ISO can import energy from the SMUD control area, the southwest or the northwest to make up for the reserve shortfall. Texas can't do that.
Also, we have cheaper hydro power in the NW to thank for at least a little bit of downward pressure on our utility bills. Not a ton due to there being physical limitations of the intertie between here and the NW but still more than there would be if those links didn't exist.
I work in a completely different industry now. Still power stuff, just not for a utility or a generator.