For the PUCT and ERCOT, Brattle co-authored a report estimating the economically-optimal reserve margin compared to various reliability-based reserve margins, and evaluated the cost and uncertainty of an energy-only and a potential capacity market in ERCOT. The simulations incorporated a detailed representation of the Texas power market, including intermittent wind and solar generation, operating reserves, different types of demand response, the full range of emergency procedures (such as operating reserve deletion), scarcity pricing provisions, and load-shed events.