Peter Gardett is CEO of Noreva, an energy market intelligence firm focused on helping market participants understand power markets, electricity pricing, grid reliability and the investment implications of rising demand from artificial intelligence (AI), data centers and industrial growth. Institutional Investing in Infrastructure editor Kali Arevalo recently interviewed Gardett about trends reshaping the power landscape. Below is an edited version of that conversation.
How are Electric Reliability Council of Texas [ERCOT] price spikes, grid reliability concerns and evolving electricity market dynamics reshaping infrastructure investment decisions?
The striking thing about ERCOT at the end of summer 2026 is how quiet things are. Despite record peak load and years of compounding shifts to the grid mix as renewables take more hours, this summer was stable, with few pricing breakouts. The contra
