This isn’t entirely true.

The main thing is that the Texas grid is independent from the rest of the national grid. Both the Texas grid, and the eastern & western national grids are privately run.

The deregulation doesn’t have anything to do with “national standards” it’s got more to do with how power is sold, transmitted, and distribution as a commodity. Texas isolated itself so the big bad federal government couldn’t make them send their power to other states at a fixed price.

Texas can & does buy and sell power to the other grids, but because they chose isolation to avoid regulation, they can only bring in like 8 Gigawatts from other grids, whereas the shortfall due to the storm was closer to 34 Gigawatts.

It’s a big liberal talking point right now to blame the Texas grid issues on privatization, but the entire national grid is privatized. The issue is in Texas’ desire for isolation, which is kinda what Texas is all about.