On September 2, 2022, the Texas Supreme Court granted CPS Energy’s Petition for Review in the CPS Energy v. Electric Reliability Counsel of Texas (“ERCOT”) matter (Case No. 22-0056). The case was consolidated with In re ERCOT and William L. Magness (Case No. 21-0834) and set for oral argument on January 9, 2023. The Court is expected to rule on several critical issues that will impact all ERCOT litigation, including ongoing litigation resulting from February 2021’s Winter Storm Uri. This article discusses what the CPS Energy appeal might mean for insurance companies.