For context, the cap is nearly 100x the normal price. In colder states power companies manage to be profitable at around the normal price of electric in Texas. The price of winterization isn’t that high, and a company that did it could have made a year’s worth of profit last week. The cap was very high and did not contribute to the outage.

In your other post you say this is a once in a century event. It really isn’t. This is the 3rd time since 1989 that Texas has had outages due to insufficient winter prep. It’s more like a once in 10 years event.

Wholesale prices are capped. They contribute to but don't limit the price paid by retail customers.