The Electric Reliability Council of Texas manages the scheduling of power on an electric grid consisting of 78,000 megawatts of generation capacity and 38,000 miles of transmission lines. ERCOT is a non-profit corporation whose members include retail consumers, investor- and municipally-owned electric utilities, rural electric co-ops, river authorities, independent generators, power marketers and retail electric providers. ERCOT is regulated by the Public Utility Commission of Texas (PUCT).

Potomac Economics has been retained to serve as the Independent Market Monitor for ERCOT. In this role, Potomac Economics identifies conduct by market participants or market rules that compromise the efficiency or distort the outcomes of the markets. Additionally, Potomac Economics issues periodic reports providing an independent assessment of the competitive performance and operational efficiency of the market.