This is very true, and I think an underappreciated point specifically for utilities, so I hope you don't mind if I expand quite a bit on your excellent point. What "deregulation" means in Texas is that there's a competitive market for electricity generation, and that those who invest in the cheapest methods of production can make profits, and those who made poor investments can lose money. This "deregulation" is merely what we think of as "normal" in market economies, where normal competition allows for greater economic efficiency.
We are in an era where clean energy is the cheapest energy, and the biggest impediment to the transition is merely being allowed to put the energy on the grid. Go around the country, and the queue to get interconnected to the grid is one of the biggest stumbling blocks. Another huge stumbling block is the procedure for acquiring new electricity generation assets, typically done through IRPs for five years out, based on out-dated data. This is the "standard" regulatory regime in the US, though its highly fractured and there are many many variations.
In this highly "regulated" environment, the corporations have already completely captured the market, and have often bribed the Public Utility Commissions to achieve their own goals.
Deregulation in Texas means less corporate capture, more of a chance for smaller startups to deploy, and a faster energy transition now that the cheapest technology is clean technology.