Texas regulators shelve an electricity market reform proposal they say does too little to shore up grid

Sign up for The Brief, The Texas Tribune’s daily newsletter that keeps readers up to speed on the most essential Texas news. The Public Utility Commission on Thursday shelved the performance credit mechanism, a controversial idea that was designed to bring more power onto the state grid and increase its reliability. “I don’t believe that the PCM, as currently designed, will provide the reliability benefits needed in the ERCOT market,” PUC Chair Thomas Gleeson wrote in a Dec. 18 memo that the rest of the commission endorsed on Thursday.