The CONE of Uncertainty

The Legislature is working to put a hard cap on the “blank check” generators would prefer

Image Credit: Oran Viriyincy

Last winter, heading into the 88th Texas Legislative Session, there was one marquee bad idea to reshape the state’s electricity market.

The Performance Credit Mechanism, or PCM, was dreamed up by a mix of energy companies, Public Utility Commission Chairman Peter Lake, and a consultant that worked for both. It proposed steerin…