Faced with an unprecedented expansion of energy demand across Texas, driven by new data centers, manufacturing facilities, electrification of the oil industry in the Permian Basin and the state’s growing population, the ERCOT market must generate, transmit and distribute 152 GWs of reliable power by 2030, up from the 89 GWs of today. The need to rapidly buildup system capacity is more intense than ever, along with attracting massive investment to deliver this avalanche of new generation, storage, transmission and distribution capacity. Simultaneously, the many market and rule reforms mandated by 2023 legislation (including the $5B Texas Energy Fund), aimed at increasing generation capacity and operational reliability, are being rolled out. What will the ERCOT power market of the future look like? Where will opportunities, challenges and risks lie? Anyone engaged with the ERCOT power market would have plenty of questions in such an “interesting” time.