> ERCOT has informed the Commission that energy prices across the system are clearing at less than $9,000, which is the current system-wide offer cap pursuant to 16 TAC §25.505(g)(6)(B)... The Commission believes this outcome is inconsistent with the fundamental design of the ERCOT market... the market price for the energy needed to serve that load should... be at its highest.
It’s not exactly plain English, but the Public Utilities Commission is pretty clearly telling ERCOT that they should ignore the current clearing rates and raise prices until there’s enough power or they hit the $9,000 ceiling, whichever comes first.
> ERCOT has informed the Commission that energy prices across the system are clearing at less than $9,000, which is the current system-wide offer cap pursuant to 16 TAC §25.505(g)(6)(B)... The Commission believes this outcome is inconsistent with the fundamental design of the ERCOT market... the market price for the energy needed to serve that load should... be at its highest.
It’s not exactly plain English, but the Public Utilities Commission is pretty clearly telling ERCOT that they should ignore the current clearing rates and raise prices until there’s enough power or they hit the $9,000 ceiling, whichever comes first.