ERCOT 6-month congestion rights value climbs 12.5%
Houston (Platts)
Electric Reliability Council of Texas congestion revenue rights for the first half of 2014 cost about 12.5% more than CRRs recently auctioned for the last six months of 2013, data released Thursday show.
Market participants acquired 386,766 MW of CRR capacity for the first six months of 2014 at a value of about $65.8 million, compared with about 225,607 MW of capacity for the last six months of 2013 at a value of $58.5 million.
ERCOT is in the process of auctioning CRRs for rolling six-month periods stretching two years into the future, offering 60%, 45%, 30% and 15% of available capacity for the first, second, third and fourth six-month periods, respectively.
In the results posted Thursday, market participants acquired about $31.5 million for positive and negative…