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Interviews

ERCOT’s securitization of billions in market uplift charges stemming from Winter Storm Uri will take its toll on market participants

In February 2021, Winter Storm Uri caused numerous outages, derates or failures to start at electric generating plants across the region. The Electric Reliability Council of Texas (ERCOT) ordered a total of 20,000 MW of rolling blackouts in an effort to prevent grid collapse, representing the largest manually controlled load shedding event in U.S. history, according to the Federal Energy Regulatory Commission (FERC). More than 4.5 million people in Texas lost power – some for as long as four days. Tragically, this loss of electricity caused numerous deaths.

In November, FERC, the North American Electric Reliability Corporation (NERC) and NERC's regional entities issued the final report on the impacts the February freeze had on the bulk electric system in Texas and other parts of the region. The 300-page analysis underscores the need to strengthen rules for cold weather preparedness and coordination to prevent a recurrence of last winter's blackouts.

Learn more about ERCOT’s securitization of $2.1 billion in market uplift charges stemming from the storm and the long-term financial impacts on commercial and industrial energy users in Elana Knopp’s interview with John Reid, Senior Director, Power Strategy and Procurement – fill out the form below to download the full interview.

 

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