June 18, 2021
FERC Issues Guidance On Justification For Sales Above WECC Soft Price Cap
FERC issued an order providing guidance regarding the $1,000/MWh soft price cap in the Western Electricity Coordinating Council (WECC).
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June 18, 2021
Texas PUC Staff File Draft Proposal For Adoption For Changes To Low Price Cap In ERCOT, Would Reject Make-Whole Cost Allocation Recommendations From Retail Providers
REPs Had Proposed Specific Cost Recovery Mechanism, Opposed Use Of Uplift
Staff of the Texas PUC have filed a draft proposal for adoption to modify the value of the low system-wide offer cap (LCAP) in ERCOT by eliminating a provision that ties the value of the LCAP to the natural gas price index, and replacing it with a provision that ensures resource entities are able to…
June 18, 2021
Just Energy Provides Estimate For Amount Of Costs For Which It Expects To Seek Recovery Under Texas Winter Storm Financing Program
Noting the passage of the ERCOT market financing bill, which had been first reported by EnergyChoiceMatters.com , Just Energy Group Inc. ('Just Energy' or the 'Company') said that, "Based on current information, if the Commission [Texas PUC] approves the financing provided for in HB 4492, Just…
June 18, 2021
Retail Supplier Defaults On Obligations At PJM, Quickly Remediates The Default
PJM on June 17 issued a market notice stating that, "Please be advised that Power Up Energy, LLC defaulted on its obligations on June 16, 2021. Shortly after the payment was due, Power Up Energy, LLC remediated the default."
June 17, 2021
Texas Gov. Signs ERCOT Market Securitization Bill; Financing Programs Include Relief For REPs From Ancillary Service, Reliability Adder Charges Above $9,000, As Well As ERCOT Defaults/Short-Pays
Final Bill Omitted Relief To REPs For 32 Hours At $9,000 After Load Shed Ended
Texas Gov. Greg Abbott has signed HB 4492, which provides a financing program available to retail electric providers for ancillary service charges and reliability deployment price adders above the $9,000 cap
June 15, 2021
ERCOT Reports 1,200 MW Returned Overnight From Outage; Says, "Reliability Of Grid Remains Strong During Record Demand"
Requests Peak Conservation Continue Through Friday
On June 14, ERCOT set a new June record for electricity demand. Based on preliminary data, the new record is 69,943 MW, which exceeds the 2018 June record by approximately 820 MW.
June 14, 2021
ERCOT: Tight Grid Conditions Expected Due To High Number Of Forced Generation Outages
ERCOT Requests Energy Conservation
The Electric Reliability Council of Texas (ERCOT) is asking Texans to reduce electric use as much as possible today through Friday, June 18.
June 8, 2021
Texas Gov. Abbott Set To Sign Texas Winter Weather Event Omnibus Bill Which Adds New Circuit Breaker Provision To ERCOT Price Cap
Texas Gov. Greg Abbott is set to sign today at an afternoon ceremony SB 3, the ERCOT winter weather event omnibus bill, and SB 2, which revises the composition and qualifications for the ERCOT board of directors.
June 3, 2021
ERCOT Proposes Capping Ancillary Service Prices, Effective In July
Also Proposes Setting Energy Prices At Offer Cap When Load Being Shed Due To ERCOT's Direction
During a Texas PUC open meeting work session, ERCOT's Vice President of Commercial Operations Kenan Ögelman said that ERCOT would be proposing two urgent protocol revisions as follows
June 2, 2021
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
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
June 2, 2021
PJM Rest-Of-RTO BRA Capacity Price Falls By Nearly $100/MW-day For 2022-23; Locational Prices Drop Significantly As Well
PJM's base residual auction for the 2022-23 delivery year saw Rest-of-RTO and most locational prices drop significantly versus 2021-22
May 31, 2021
Enrolled Version Of Texas Winter Weather Event Omnibus Bill Drops Provision Allowing Wholesale Index Plans To Continue, Bill Sent To Governor
The Texas House and Senate have both passed a conference committee version of SB 3, and the bill has been enrolled and is being sent to the governor
May 31, 2021
ERCOT Market Securitization Bill Sent To Governor, Omits Relief To REPs For 32 Hours At $9,000 After Load Shed Ended
The Texas House and Senate have both passed a conference committee version of HB 4492, and the bill has been enrolled and is being sent to the governor
May 28, 2021
Update #2 (May 28 afternoon): Language Posted For Texas Senate Amendments Providing Financing To REPs For Costs From Energy Prices Maintained At $9,000 After Winter Event Ended; Other Costs
With regards to the relief related to amounts from entities defaulting at ERCOT (short-pays), the Senate version of HB 4492 provides that the PUC may authorize the independent organization to establish a debt financing mechanism to finance the default balance as follows:
May 28, 2021
Update #2 (May 28 afternoon): Language Posted For Texas Senate Amendments Providing Financing To REPs For Costs From Energy Prices Maintained At $9,000 After Winter Event Ended; Other Costs
With regards to the relief related to amounts from entities defaulting at ERCOT (short-pays), the Senate version of HB 4492 provides that the PUC may authorize the independent organization to establish a debt financing mechanism to finance the default balance as follows:
May 27, 2021
Update #2 (May 28 afternoon): Language Posted For Texas Senate Amendments Providing Financing To REPs For Costs From Energy Prices Maintained At $9,000 After Winter Event Ended; Other Costs
With regards to the relief related to amounts from entities defaulting at ERCOT (short-pays), the Senate version of HB 4492 provides that the PUC may authorize the independent organization to establish a debt financing mechanism to finance the default balance as follows:
May 26, 2021
ERCOT To Test Emergency Notification System
ERCOT said today that, "As part of ERCOT’s aggressive pre-summer preparation activities, the grid operator will test its automated emergency grid conditions communication system this evening, Wednesday, May 26, beginning at 7 p.m."
May 26, 2021
ERCOT Formally Initiates POLR Drop For Brilliant Energy Commercial Customers
ERCOT has formally initiated the mass transition of Brilliant Energy's non-residential customers to Providers of Last Resort (POLRs)
May 25, 2021
Texas Senate Committee Advances ERCOT Default, Uplift Securitization Bill Without Changes, Retains Relief For REP Ancillary Service Costs
Amendment To Separate Cooperative-Focused Securitization Bill Would Force Co-ops Into "Competitive Market" If Co-ops Owing Money To ERCOT Do Not Use Securitization
May 21, 2021
Retail Vet: Texas Retail Market Will Lose More Than 20 REPs If Senate Committee Substitute For House's ERCOT Securitization Bill Adopted
Committee Substitute Omits Ancillary Service Charges From Included Costs
The Texas Senate Business & Commerce Committee has drafted a committee substitute to HB 4492 which would omit ancillary service charges, such as those ultimately charged to retail electric providers, from the costs addressed by the relief provided by the bill
May 17, 2021
PJM IMM Says Creation Of D.C.-Specific Fixed Resource Requirement Would Increase Capacity Prices For D.C. Customers, Though Costs Fall Under One FRR Scenario
Analysis Prepared At Request Of D.C. PSC Chair
In response to a request from District of Columbia PSC Chairman Willie L. Phillips, the PJM Independent Market Monitor analyzed the impacts of the creation of Fixed Resource Requirement (FRR) entities in the District of Columbia (DC). FRR entities elect to not participate in the PJM Capacity Market…
May 10, 2021
Exelon Seeks Judicial Review Of Texas PUC Order Giving ERCOT Discretion Over Uplift Process
Exelon Generation Company, LLC and Constellation NewEnergy, Inc. sought, in Travis County, Texas, district court, judicial review of the Texas PUC's order dated February 21, 2021 which Exelon said, "removed the monthly cap on default amounts that can be uplifted onto ERCOT market participants in the…
May 7, 2021
Texas House Approves Bill That Would Authorize PUC To Securitize ERCOT Default, Uplift Charges
The Texas House has passed HB 4492 which would create a mechanism for the Public Utility Commission of Texas to authorize the securitization of ERCOT market uplift charges related to the winter weather event
May 6, 2021
Texas PUC Votes To Issue Proposal For Publication To Remove Fuel Index From ERCOT Low Offer Cap, Add New Make-Whole Provision
The Public Utility Commission of Texas today voted to issue a proposal for publication that would change the ERCOT scarcity pricing rule to eliminate the 50-times fuel index price provision in the ERCOT market low system-wide offer cap (LCAP), such that the LCAP would be $2,000 per MWh and $2,000…
May 6, 2021
ERCOT Reports Record Electric Demand Expected This Summer; Low Risk Of Emergency Conditions Based On Expected Generation Availability & Weather Conditions
ERCOT CDR Shows 2022 Reserve Margin Increasing To Nearly 29%; Exceeds 30% In Subsequent Years
The Electric Reliability Council of Texas (ERCOT) said today that it is anticipating record-breaking electric demand this summer due to expected hot and dry conditions and continued economic and population growth throughout the region.