Texas’ risk of running short on electricity reserves over the next two years has risen dramatically in the past six months, as about 13,000 megawatts of planned new generation projects were either canceled or suspended, regulators told state lawmakers Thursday.

That surprised at least one member of the House State Affairs Committee, Rep. Rene Oliveira, D-Brownsville, as the panel investigated whether the state’s competitive electricity market can keep the lights on.

“I’m still a little stunned we couldn’t anticipate it,” Oliveira said. “I think what you are telling me is a ‘perfect storm of events’ that surprises me.”

Continue reading at the Austin American-Statesman.