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Our daily newsletter covers a medley of energy topics driven by market events.
Stay updated on hot energy topics, and special announcements.
This artilce sets the stage for how batteries within the CAISO footprint are impacting the grid/markets. As the capacity continues to grow, the impacts will be seen in various markets and at different levels. As this technology unfolds, we will be there with the analytical foresight to understand how the current habits evolve.
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ERCOT continues to be the leading when it comes to overall wind capacity within its electricity grid. It was not until the past couple of years that solar generation has started to pop up across the middle of the day. It is nowhere near that of California but it is a start. As we continue to dive into the analysis, the one thing is clear, the solar output matches better to the peak load unlike that of the Golden State.
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A battery can sell three types of products: resource adequacy (RA), ancillary services , and energy. RA revenue is a function of the capacity market rules (e.g., size of battery and duration), and is generally procured on a monthly or annual basis. As such, RA value is not directly impacted by short term energy and ancillary prices or dispatch. Ancillary services, especially regulating reserves, are currently profitable, but the market for them is very small compared to the size of the energy market. In the CAISO, for example, the current regulating reserve market is about 300 MW of “reg up” and 300 MW of “reg down.” Historically, the regulating reserve market was served by flexible hydro and natural gas.
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This past January, ERCOT implemented the first part of scarcity price policy revisions from the Public Utility Commission of Texas. These changes, affecting the Operating Reserve Demand Curve adder (ORDC), were set to take place in two phases: at the beginning of 2019 and 2020. This past April, EGPS discussed the proposed first change and how it might affect ERCOT pricing. Now, at the end of the summer, it’s time to look ahead at the upcoming second change. This article presents an analysis where the frequency and level of ORDC adders is calculated using defined adjustments. We compute expected adjustments based on the known change to the ORDC adder coming March 2020 (Phase 2 adder) as well as some expected change to the net resource mix.....
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The ‘Sumas Story’ started years ago when cold winter days in the Pacific Northwest had to compete with Northeast winter demand as AECO was the marginal molecule. This created a lively market that saw both Sumas and AGT cash gas prices shoot through the moon. As the grid was going through its evolution of pipeline expansions (REX) and on-shore production, the leverage of AECO diminished to a point that Sumas went to the wayside while AGT was still privy to the winter price spikes. Almost a year ago to the day of writing this report, the Pacific Northwest got a jolt (no pun intended) as the 36 inch Enbridge pipeline near Shelley, BC exploded with a ball of fire that was seen for miles......
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When Winter Storm Uri pummeled Texas in February, many generators stopped performing on their contracts for physical delivery and claimed force majeure. Many wind projects with fixed quantity hedges with banks played the force majeure card as their blades froze due to the cold temperatures. Of ...
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There is a little time before the summer heat is upon us in Texas but ERCOT is working its way through the first real warm period of the spring as temperatures in Houston are projected to hit 86 degrees later today then hold with daytime highs in the low 80's over the weekend. Dallas and ...
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Exports to Mexico in the past several days have posted a precipitous drop as maintenance season gets underway. Volumes should post a typical seasonal recovery as Mexican power burns rise to support cooling loads during the summer months. However, summer burns will continue to be ...
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The Lower 48 natural gas balancing still has some seasonal heating load in the mix for the next few days. But by the end of the week the total ResCom demand is expected to fall from the present 21 BCF per day down to 14 BCF per day. This drop off will accelerate the storage refill injections all ...
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There is a saying that goes like this, "don't cry over spilled milk", which means do not spend time worrying about things of the past that cannot be changed. This holds true in the Pacific Northwest this time of year as the first week of April has the Lower Snake river system starting their ...
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On Thursday of this week the wires lit up with news of President Biden’s $2.3 trillion infrastructure plan. The plan “would supercharge an already booming clean-power sector by expanding subsidies and addressing key bottlenecks impeding the shift to a greener grid” according to ...
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No joke: we made it to April 1. If you’re a baseball fan you regard this as day as the official start to summer. It is also the start of the gas market’s “summer”, contracts spanning April through October. While this conjures warm thoughts of shorts, flip ...
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As a kid, one of the enjoyments of rummaging through the Sunday newspaper was to get to the comic section where one of the frames on the front page was dedicated to two images that on first glance looked identical but then the caption read 'can you find the x differences in the two images ...
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Outside of two weeks in February the Eastern United States has kept the above normal trend intact and this past weekend was no exception. It was the warmest three day stretch since October of last year with many cities posting daytime highs in the mid 70's. The warm weather has also ...
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Now that we are over a full year into the Pandemic lockdown situation, the day of week or time of day gets lost in the shuffle as one's routine is to work out of a home office and look at a calendar that is full of conference calls with clients and internal meetings. In the old days, the ...
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