Presumably these would be tied to EEA events if ERCOT is going to dispatch them. ERCOT doesn't experience EEA events very often. With a mild summer you could easily have these plants sit idle for long periods of time.
On the face of it....I can't see this getting through the legislature. It is effectively a capacity market paid to a single resource owner....as opposed to a competitive auction like in PJM. Historically, Texas Legislature has hated anything resembling a forward capacity market. I run through the list and think of all the other entities that would oppose this. Heavy industry, manufacturing, retail energy providers, existing generation owners, existing municipally owned utilities likes Austin Energy, Cooperatives like Pedernales.
I have to think that if this got built...the dispatch of the plants...would require that prices remain high in realtime. The market would almost instantly see price drops in real time with this generation coming online....unless it is full on grid collapse....which again....isn't very often. ERCOT already has over 1000mw of responsive reserve (generation that is online but not dispatched...in case plans trip offline) and also procures non-spin...generation that can be brought online is a very short period of time. Obviously it does not procure 10,000 mw of these types of reserve a day....as that is absurd in a normally functioning market.