The Electric Reliability Council of Texas (ERCOT) board of directors has voted unanimously to implement a system change to prevent the market clearing price for energy (MCPE) from rising above the current offer cap of $2,250/MWh.
The changes include reducing the shadow price cap from $5,600 to $5,000 per MWh and imposing an MCPE cap of $2,250/MWh and MCPE floor of $1,000/MWh.
The Public Utility Commission's (PUC) independent market monitor, Dan Jones of Potomac Economics, recommended the changes to produce MCPEs that remain within the bounds of the applicable offer caps and floors established by the PUC.
In addition, Alton D. Patton has been selected as an ERCOT independent board member (unaffiliated with any market participants) and began his three-year term this month.
Patton is professor emeritus of electrical engineering at Texas A&M University with 35 years' experience as a faculty member, including four years as head of the electrical engineering department. He is also president of Associated Power Analysts Inc. in College Station, an engineering consulting service providing electric power system analysis, power system reliability and failure analysis.
Patton fills the position vacated by Carolyn Gallagher, who completed her elected term in March.
SOURCE: Electric Reliability Council of Texas