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A Who’s Who of Key Players Address Emerging Opportunities and Challenges in ERCOT!
Challenging times lie ahead for ERCOT. Low gas prices, declining electricity and the entry of tens of gigawatts of renewables have led to unprecedented low power prices. Economics are driving gigawatts of coal and older gas-fired units to consider shutdown, raising fears about resource adequacy by 2019. While PTC and ITC extensions will drive as much as 16 GW of new wind and solar projects, transmission congestion and emerging community pushback complicate development, and the addition of more renewables is increasing concerns regarding balancing services.
Facing unprecedented market dysfunction, ERCOT, regulators and stakeholders are reexamining market performance and exploring alternative ways to avoid grid instability and potential disruptions. Resource adequacy dockets are being reopened, Run-Must-Run (RMR) and other outside the market solutions contemplated, and the recommendations of an ancillary services market study may be implemented in the near future. How will these initiatives impact market participants? Will natural gas prices rise enough to obviate merchant risk? What will the impacts be on project developers, owners, power traders, energy retailers and end-users?
ERCOT Market Summit 2017, February 28 – March 1, will examine the changing market rules and drivers, and bring policy-makers together with utility, solar, wind, IPP and other executives to explore the potential solutions and opportunities. They will examine the potential impacts of gas prices not only on power prices but demand, how the delivery of new wind and solar power will change market dynamics, and how revamping ancillary service market rules might open opportunities for storage and DR.
Be sure to attend our Pre-Summit Briefing: ERCOT Market Dynamics and Management Strategies, February 27, to explore future energy pricing, and its impacts on retail marketing and risk management strategies.