SB 1560 requires independent power grid organizations, including the Electric Reliability Council of Texas (ERCOT), to submit annual budget proposals and financial plans to the Texas Legislature before approval by the Public Utility Commission (PUC). The bill mandates that the chief executive officer of an independent power grid organization must testify before the state finance committees of both the Texas House and Senate regarding their proposed budget, investment strategies, performance measures, and contractual obligations. The intent is to increase legislative oversight and ensure transparency in electric grid operations and financial decisions.