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Report: ERCOT Market Prices Would Have Been Less Than $1,000/MWh For 32 Hours After Winter Event Load Shed Had Ended If PUC Had Not Set Prices At Cap
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Vistra Corp. commissioned a study by a third-party consultant to determine what ERCOT market-clearing energy prices would have been during February 15-19, 2021 in the absence of the PUC's order setting the price at the $9,000 cap
The consultant found that, between 22:15 on February 15th and 9:00 on February 19th, energy prices would have averaged $2,404/MWh if not for the PUC orders.
"This market outcome would mean $6,578/MWh lower real time energy prices than the prices reported by ERCOT as a result of the PUCT Orders," the consultant said
The report also examined the prices that would have resulted on individual days
For Feb. 18, the report found that protocol-based energy prices would have averaged $758/MWh, and for Feb. 19 (until 9:00 a.m.), prices would have averaged $965/MWh
The report notes that load shed dropped to 0 MW by 0:00 am on February 18th, but ERCOT continued to set prices administratively at $9,000/MWh until 9:00 am on February 19th
See the report here
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June 2, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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