Further changes in the 1999 Texas Legislature not only called for a restructuring of the electric utility industry but also created new legislation that ensured the protection of customers' rights in the new competitive environment.

Following the February 13–17, 2021, North American winter storm, the PUC was sued by plaintiffs alleging that its actions led to a spike in electricity prices.

[4][5] On June 14, 2024, the Supreme Court of Texas ruled that the PUC had acted within its authority as a state agency in taking emergency measures that raised the price of electricity, and was therefore immune from suit.

The PUC's stated mission is to "protect customers, foster competition, and promote high quality infrastructure".

Over the years, various changes have dramatically re-shaped the PUC's mission and focus, shifting from up-front regulation of rates and services to oversight of competitive markets and compliance enforcement of statutes and rules.