- The deregulation of Texas' electricity market led to billions of dollars in investments and the addition of 22GW of new natural gas power plants, improving reliability and lowering costs. - Retail competition in Texas is among the most active in the US, with customer switching rates comparable to other successful deregulated markets. - While the Texas model has largely been a success, opportunities remain to improve efficiency and reduce costs, such as addressing high bad debt, unaccounted for energy losses, and transmission constraints that drive generation costs.