For ERCOT, Brattle experts characterized the factors influencing generation investment decisions, analyzed the energy market’s ability to support investment and resource adequacy at the target level based on probabilistic simulation analyses, and evaluated options to enhance long-term resource adequacy while maintaining market efficiency. We interviewed stakeholders and worked with ERCOT staff to understand the relevant aspects of their operations and market data. We performed probabilistic simulation analyses of prices, investment costs, and reliability. Our findings informed a Public Utility Commission of Texas (PUCT) proceeding in which Brattle experts filed comments and presented at several workshops. The findings ultimately led to ERCOT’s development of the Operating Reserve Demand Curve (ORDC).