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ERCOT May congestion rights value rises 18.4%
Houston (Platts)
The value of congestion revenue rights acquired in the Electric Reliability Council of Texas auction for May was about 18.4% more than the value of April CRRs, according to results posted Thursday on ERCOT’s website.
The dollar value for May totaled more than $21.9 million, of which $14.7 million was for obligation CRRs and about $7.2 million was for option CRRs. The total capacity acquired in the auction was 137,392 MW, compared with 126,338 MW in April, which is an increase of 11,054 MW, or 8.7%.
An obligation CRR is a financial instrument that entitles a CRR owner to be charged or receive…
Enernoc thinning position in New England forward capacity market
Washington (Platts)
Enernoc is shifting its demand response resources in New England to thin out its position in the forward capacity market and focus on the energy market to meet customer needs, a spokeswoman said late Monday.
The move means that Boston-based Enernoc, one of the largest demand response firms in the US and an early participant in the ISO New England demand response programs, will have less of a presence in the…
A Battle Intensifies Over the Fate of Energy Future Holdings
BY JULIE CRESWELL dealbook.nytimes.com
The biggest private equity buyout ever — the $45 billion deal for the Texas energy giant TXU in 2007 — has been steadily sliding toward becoming one of the biggest busts.
Yet even as bankruptcy is acknowledged as a possibility, the company’s private equity owners are trying to make sure they don’t walk away empty-handed.
The company, now called Energy Future Holdings, has completed a series of moves in recent months that analysts say could allow it to put only part of its business — …
The board of directors for the New York Independent System Operator on Friday approved the 2012 Comprehensive Reliability Plan, which concludes that sufficient market-based, regulated backstop and alternative regulated solutions have been proposed to meet identified reliability needs through 2022.
“Given the expanding universe of potential risks to system reliability that are outside of our control, a robust planning process is absolutely critical,” said NYISO President and CEO Stephen G. Whitley in a press release Friday. “Factors such as extreme weather conditions, public policy revisions and dynamic economic…
Insufficient state-level regulation of electricity markets ultimately would result in price volatility, as market players are unable to diversify their supply portfolios and bring new generation projects online, power executives said Thursday.
“Every plant that is being built right now — gas, nuclear, solar — is being built in regulated markets,” Duke Energy President and CEO James Rogers said at the IHS CERAWeek conference in Houston. “They aren’t being built in competitive markets because [they] don’t have capacity markets. This is going to lead to price…
NERC Demands ERCOT Address Declining Reserve Margin Levels
POWERnews
The Electric Reliability Council of Texas (ERCOT), the grid operator that oversees 85% of Texas’ electric load, should consider additional potential solutions to address its worrisome resource adequacy and provide a plan outlining measures it will take to increase woefully low reserve margins, the North American Electric Reliability Corp. (NERC) said in a strongly worded letter last week.
ERCOT in December projected a reserve margin of 13.2% for summer 2013—slightly below ERCOT’s 2010-selected target reserve margin of 13.75%—but it said Texas could see tight power supplies after that. Reserve margins are expected to drop to 10.9% in 2014 and decrease in future years, plunging to 2.8% by 2022.
NERC, an electric reliability organization certified by the Federal Energy Regulatory Commission (FERC) to ensure reliability for North America’s bulk power system, expressed concern about…
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