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| Tuesday Jul 1, 2025 | |
| A powerful heat dome swept across the Midwest, Mid-Atlantic, and Northeast U.S. last week, leading to surging electricity demand and soaring temperatures that set new records, as discussed in our latest Article titled. Energy GPS explored the effects of this event in detail, with a special focus on NYISO and a key factor that’s quietly shifting the market: Behind-the-Meter (BTM) solar. Unlike utility-scale solar, BTM solar reduces visible demand without being reflected in metered grid power. Its growing presence is starting to significantly shape how the grid experiences load during extreme heat events. Figure 1 | Northeast Temperatures for June, 2020-2025 As the region heated up, transmission dynamics shifted across NYISO's interconnected neighbors. Notably, imports from Hydro ... » read more | |
| Monday Jun 30, 2025 | |
| The ongoing US/Canada trade war lit a match under the Great White North. Since the start of the current US administration, our neighbors have made quite a few strides to strengthen their position. They saw a come-from-behind victory or the liberal party, a strong victory for the political center, with almost a decade of consecutive rule. They saw popular backlash to American goods, and American vacation spots. And now, they have found a new home for their natural gas, in the form of LNG Canada. This new facility, located on the north coast of British Columbia plans to export 14 million metric tons per annum this year[1], or 1,870 MMCF/d. This would make a big splash with regards to diversifying from the American market. Figure 1 | Coastal Gaslink Pipeline Map[2] This new operation relies ... » read more | |
| Friday Jun 27, 2025 | |
| Over the past week, a heat dome has blanketed much of the country. We've been tracking its impact on various markets, from MISO up to ISONE, in market flashes and articles. However, looking at the map below, one region notably avoided the heat: ERCOT, which has been much-discussed in terms of electricity demand growth, high prices, and the potential for summertime scarcity, spent the heatwave at seasonally normal temperatures. Figure 1 | Observed Max Temperature & Departure from Normal, 6/24/25, AG2 Trader While the Texas weather this past month can hardly be called "cool", it has been less hot than June during the past few years. This has helped counter the impact of ERCOT's ongoing structural demand growth. The top pane of the graph below, which is taken from our ERCOT RT ... » read more | |
| Wednesday Jun 25, 2025 | |
| An intense heat wave made its way across the middle of the country earlier this week delivering high demand and high prices in MISO. The well-above normal temperatures strengthened over the weekend. Demand, which had yet to reach 100 GW this June at the start of last week, was now peaking over 110 GW. Over the weekend, wind generation was strong throughout both days, averaging close to 20 GW in a steady and flat profile. Meanwhile, MISO’s growing solar capacity was providing more than 12 GW in the middle of the day. As the wind forecast for Monday solidified, however, the grid operators knew they would be in a tight spot. Forecasts for demand on Monday night had a peak over 120 GW while the wind volumes shrunk to under 10 GW in the evening. A Max Gen Warning was declared for Monday ... » read more | |
| Tuesday Jun 24, 2025 | |
| In our recent daily morning reports, we have talked about how the wind generation has been absent during the first three weeks of June 2025 in SPP. This has kept net load elevated, peaking in the low to mid-30s GW. Load levels have remained modest not only throughout June but also since May. Mother nature shifted gears last week and delivered plenty of wind volumes as depicted later in this blog. Figure 1 presents a 12x24 chart showing load, wind generation, and net load trends. Note that June 2025 data includes only the first 23 days of the month. Figure 1 | SPP 12x24 Profile, 2023-2025 Starting with load (top pane), the first four months of 2025 saw higher levels compared to the same period in the previous two years, particularly in February. However, this changed in May, when ... » read more | |
| Monday Jun 23, 2025 | |
| June holds two major sporting events on the calendar, they are the NHL (National Hockey League) and NBA (National Basketball Association) playoffs. Since both are televised, it is a known fact that a team from Florida won the hockey championship while Oklahoma City won the basketball championship with a decisive Game 7 victory on Sunday night. The sporting event that does not get the recognition it deserves is the 2025 installation of the Tour Divide Race. This ultra-distance cycling event asks the simple question: how quickly can you make it from Banff to the Mexico border using just your legs and a bike? Progress (in time) is not recorded in 4k and streamed on major networks, instead, we get the information via satellite tracking and the magic of the internet. This brings us to ... » read more | |
| Friday Jun 20, 2025 | |
| We have developed a fundamentals-based Production Cost Model (PCM) for the WECC that provides 20+ years of hourly price forecasts at trading hubs and zones. The forecast can be used for resource valuation, resource adequacy and policy making decisions and our newly offered WECC Market Report includes a full discussion of market drivers, policy implications, price trends, and input uncertainties. One of the key drivers of our forecast is a modeling decision around how much capacity is added to the grid over the next 20+ years. To meet clean energy policy goals the amount of capacity far exceeds anything that has been added to the WECC in recent years by close to 2X. Making decisions on what is going to happen is difficult and impactful to the model outcomes. Take ... » read more | |
| Thursday Jun 19, 2025 | |
| It can be hard sometimes to tell when summer has arrived in the Pacific Northwest. The PNW saw a blast of warm weather early in the month but is now seeing much cooler conditions move back over the region, drawing temperatures in Portland back down below 60 degrees tomorrow and over the weekend, enough to make a person question if we’re back in early spring. Thankfully, the PNW hydro system is here to help relieve any confusion. A careful observer of generation along the Columbia River would have received a clue earlier this week as output for the four Lower Columbia dams showed a sharp jump upwards on the 16th, from 1.7 GW to 2.2 GW in a single day. Looking at generation from past years, we see a similar increase showing up on the 16th of June each year. ... » read more | |
| Wednesday Jun 18, 2025 | |
| The Columbia Generating Station is coming back online after extended refueling maintenance. Work began back in April and the plant was completely offline for over 60 days. Refueling outages for Columbia happen every other spring but usually don’t start until the first week in May and only last a little over a month. The figure below shows outages for the nuclear plant going back to 2021. The refueling outages have a long lead up as the plant slowly powers down before going 100% offline for repairs. Unplanned outages are quicker and usually impact only a portion of the plant’s capacity. Figure 1 | Columbia Generation Station Outages, 2021 - 2025 (MW) Over the next several refueling outages, the plant will have additional work to complete. At the end of last month, BPA and ... » read more | |
| Tuesday Jun 17, 2025 | |
| The Alberta market has been displaying some volatility over the past couple of weeks with the most recent activity showing up over the weekend. Over the next couple of days, the grid operations are going to be dealing with a wind generation profile that is all over the board and when the lower volume hits during the evening ramp is when the marginal cost of energy puts forth a climb to the top of the supply stack. Figure 1 | Alberta Real-Time Price Action Looking at the chart in Figure 1, when the stars align for power demand and the lack of wind generation, the solution boils down to the reliance of flexible resources that know where they are in the supply chain and can price closer to the cap level for brief stints. The flexibility comes from the adjacent regions such as BC and ... » read more | |