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What would ERCOT renewable production look like if it were scaled such that the annual production were equal to the ERCOT load ?” Well, that’s an interesting question, and, frankly, not that hard to answer. Below are the interactive answers for 2019 (scale factor 4.74), 2020 (scale factor 3.98), and 2021 (scale factor 3.53). …
The Gist In Spring 2022 the PUC put out an RFP for an expert advisor to help them understand the implications of various Phase 2 proposals. Only two firms responded, Potomac Economics (the current holder of the IMM contract) and E3 (the author of the LSE Obligation proposal). Important Actions Reference Meeting Notes 3/31/22…
The Gist If a resource’s fuel costs go more than $1/MMBTU over the Fuel Index Price(FIP), a resource can submit “Exceptional Fuel Costs” that get included in the Mitigated Offer Cap calculation (rather than FIP). If this happens ERCOT has to post a market notice within five business days notifying market participants that this has…
Executive Summary The commissioners were very concerned about the timelines ERCOT presented in their January 10th comments for implementing phase 1 and 2 of the PUC roadmap for market reform, particularly for firm fuel service and backstop reliability service. ERCOT was instructed to look into hiring outside contractors to complete the projects by next winter…
Executive Summary At today’s SAWG ERCOT presented the Long Term Load Forecast (LTLF) and the Capacity, Demand, and Reserve (CDR) report. The biggest take away is that the CDR will undergo major changes soon; these will be run through the normal stakeholder process, but they will likely have the implicit approval of Commissioner McAdams. The…
Executive Summary The new ERCOT Board of Directors met for the first meeting with the whole group. Most of the meeting was held in executive session, with only four topics discussed in the general (open to the public) session. Of the topics discussed in the general session, the most interesting one for stakeholders was corporate…
Executive Summary Today’s Public Utility Commission meeting ended with a bang, as the commissioners 1) walked back their support for NPRR1092(Reduce RUC Offer floor and remove RUC Opt Out) and supported a full stakeholder process on that NPRR, and 2) Expressed concern that price formation has gotten weird as evinced by yesterday’s price spikes (even…
Executive Summary And with the Wholesale Market Subcommittee meeting, the ERCOT stakeholder process has returned after its winter break. The biggest news was that NPRR1092 (Reduce RUC Offer Floor and remove RUC OPT OUT option) got endorsed in a highly contested and debated 65-35 vote, with loads, Retail Electric Providers, Munis and Transmission utilities lining…
The Gist As part of Phase 1 of the PUC’s Market Redesign efforts, the PUC called for ERCOT to “Improve transparency of price signals to load resources, including changing demand response pricing from zonal to nodal”. ERCOT is looking into doing so, and their initial thoughts are: to first implement this only for large, single…
The Gist Due to a mix of planned and forced outages during Winter Storm Uri Brazos Electric Co-op had essentially no generators operating during much of the $9000/MWh pricing, resulting in essentially $2B of charges from ERCOT. Brazos declared bankruptcy and the matter is currently in court. Important Actions 3/3/22 ERCOT and Brazos agree to…
