The actual paper as well as the press release points something out that I think a lot of the "lol, Texas" discussion here is missing - many markets globally are

The actual paper as well as the press release points something out that I think a lot of the "lol, Texas" discussion here is missing - many markets globally are Energy Only including all EU markets. (the only European capacity market is in the UK). So Texas is not some kind of buccaneering outlier in having an energy only market. Where they might differ is in how tightly they enforce security of supply requirements - had all the installed gas generation been able to run there would have been problem.