One of the challenges of electric power market design comes in the need to consider the consequences of design choices for both market outcomes and grid reliability. Strictly speaking, the two kinds of consequences are not neatly separable, as market choices affect system reliability and system reliability affects market outcomes. The interaction between the two … More Integrating Reliability-must-run Practices into Wholesale Electricity Markets
The much anticipated, objected to, lobbyied about, editorialized on US Department of Energy study on electric grid reliability, markets, and policy has finally been released. Finally us commenters will actually know what we are talking about. Maybe. You can find the report on the DOE website along with Secretary Perry’s cover letter. I may comment … More Early Reactions to the Doe Grid Reliability Study
Michael Giberson From the New York Times: 2nd Day of Power Failures Cripple Wide Swath of India It had all the makings of a disaster movie: More than half a billion people without power. Trains motionless on the tracks. Miners trapped underground. Subway lines paralyzed. Traffic snarled in much of the national capital. On Tuesday, India suffered the … More India’s Electrical System Produces Largest Power Blackout Ever
Michael Giberson The Electric Power Supply Association, “the national trade association representing competitive power suppliers,” supports the use of electric power capacity markets to ensure sufficient generation capacity is available to reliably serve peak consumer load. See, for example, EPSA’s policy paper on the topic: Well-functioning forward capacity markets are a critical component of organized wholesale … More Does Epsa Support Capacity Markets? For Power Markets, Yes; for Gas Pipeline Markets…
Michael Giberson The Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Corporation (NERC) have issued their report on the events surrounding electric power and natural gas supply interruptions around the Southwest United States in early February, 2001. The culprit? According to the press release: “the task force found a majority of the … More FERC, NERC Conclude “Weather-related Causes” Explain Most Electric Power and Gas Supply Problems During February’s Extreme Cold in Southwest U.S.
Michael Giberson A FuelFix post by Tom Fowler relays ERCOT’s report that the Texas grid operator expects to have enough power to serve customers reliably this summer. At the end of Fowler’s post he casually mentioned, in connection with the rolling blackout in ERCOT last winter, “a report by federal reliability officials concluded power plant … More Power Outages Hot and Cold
Michael Giberson The Texas Reliability Entity has issued its report on the ERCOT extreme cold weather events and rolling blackouts of February 2, 2011. Texas RE is the NERC regional entity for the ERCOT power system and contracted to the Public Utility Commission of Texas to serve as ERCOT reliability monitor for the state agency. In … More Ercot Reliability Monitor Issues Report on the February 2 Rolling Blackouts
Michael Giberson The ERCOT independent market monitor (IMM) has released its report on the February 2, 2011 rolling blackouts. Excerpts from the report introduction are below, but let’s get to the meat of the matter. The IMM was asked (1) whether there was any evidence that market participants tried to manipulate the market for financial … More Independent Monitor Finds No Market Abuse During Ercot Rolling Blackouts on February 2
Michael Giberson A regulatory filing by Energy Futures Holdings Corp., the parent company of Luminant, a major power generator in the Texas market, provides a small peak behind the curtain of confidentiality that has limited the public’s view of what all went wrong on February 2. A small peak, but a significant story: In an … More Ercot Rolling Blackout News: Powerful Market Forces Already at Work
Michael Giberson [Note: This item was originally posted at MasterResource as: “Texas Power Outages: A Preliminary Analysis (Cold snap brings failure–isolated ERCOT an issue)“] Wednesday morning, ERCOT, the power grid operator for much of Texas, called upon local distribution companies to cut power to blocks of consumers on a rotating basis. The rolling outages were a … More Cold Snap Brings Rolling Power Outages to Texas; is Ercot Policy of Isolation at Fault?