Weekly Price Recap: 9/06 – 9/12
For the week, we saw 5 hours that averaged higher than 10c/kWh, all on Saturday, when the wind generation came in lower than ERCOT had forecasted.
The following graphs shows the ERCOT forecast in blue on Friday for Saturday vs. what it actually was on Saturday.
This graph shows the ERCOT forecast load on Friday morning for Saturday compared to the actual Saturday load.
This second graph shows the wind forecast for Saturday as of Friday morning, compared to actual wind generation.
When that happens, ERCOT usually has to rely on more expensive non-renewable power plants that are able to start up quickly and replace the wind generation, causing the short-term price spikes. Members who can reduce during these periods not only save money, but also end up using less power from non-renewable sources. A win-win.
Your energy rate was 3c/kWh or less for more than 95% of the hours during the week!