They are, actually. The PUCT has historically done a great job.

But, legislation (outside PUCT) has allowed the utility (generators and transmission/distribution asset owners) to cut the system to the bone and defer maintenance and expansion despite a new city's worth of people (~100k) relocating each month to Texas.

Texas’s population is not increasing by 100k/month. Sure, people may be flocking there but actual population growth is less than half that rate.

50k per month is still 600k/year! The point remains that the population growth (which is known and anticipated) is not having utility growth to match.

So you're saying that except for the laws the control what PUCT can regulate, regulation is working fine?