ERCOT 6-month congestion rights value climbs 12.5%

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…

ERCOT May congestion rights value rises 18.4%

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…