Texas cuts ERCOT cap from $9,000/MWh to $2,000; summer exemption mulled

摘要

Texas regulators March 3 ordered the resumption of a scarcity-pricingrule that changes the Electric Reliability Council of Texas systemwideoffer cap from $9,000/MWh to the higher of either $2,000/MWh or 50times a natural gas fuel index price.The Public Utility Commission of Texas convened virtually theevening of Feb. 15 and suspended the “circuit-breaker” pricingmechanism that would change the systemwide cap from $9,000/MWhto the greater of $2,000/MWh or 50 times the natural gas price index,when the peaker net margin threshold of $315,000 is reached.