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 though there appeared – to Commissioner McAdams, at least, that there were plenty of reserves on the system.
Notes
- 51841(Emergency Plans) -There will be a workshop for companies to get details on how to meet the April 15th deadline.
- 53191(Reorganization of Substantive Rule 25.505)- The commission staff would like people to know that this is a reorganization project only; please hold off on your substantive comments until that rulemaking is open (later).
- Firm Fuel Supply Service- ERCOT has not fully completed its survey of other ISOs, but noted that no other ISOs in North America have “entire system” firm fuel supply service programs.
- NPRR1092(Reduce RUC Offer floor and remove RUC Opt Out)- Chairman Lake wrote a memo last night where he walked back his support for NPRR1092 and suggested that market participants submit written comments to ERCOT prior to the workshop on March 10th so that all issues can be addressed. The other commissioners agreed with this approach; especially Commissioner Cobos who flat out stated that she thought $75/MWh was too low a floor for RUC.
- Price Formation- Commissioner McAdams feels that ERCOT and TAC need to begin discussing that policies are harmonized and working well particularly in light of the price spikes on February 24th where it seemed like there were plenty of reserves.
