[en] This PowerPoint presentation provided a look at the deregulated market in Texas. The Electric Reliability Council of Texas (ERCOT) was created in 1970 to establish and monitor the reliability of Texas systems. In 1996, ERCOT became an Independent System Operator (ISO). The author explained the governance adopted by ERCOT. Originally, the Board consisted of 22 members, but market segment representation was reduced in December, leaving 14 members. The Board's mandate is to provide guidance and direction to the staff of the ISO. Senate Bill 7 was discussed, which became law in 1999. It required the creation of a competitive retail electricity market. It also required: open access to transmission and distribution systems, reliability, timely conveyance of information needed to support customer choice, and accurate accountability for electricity production and delivery. Market design was described and observations added. The author concluded that wholesale operations remain solid and that all grids are subject to disturbances. One of the biggest challenges is transmission. Despite start-up problems, retail operations are progressing well. tabs., figs