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For asset operators and independent power producers (IPPs) to operate efficiently and strategically, they need access to as much data as possible. Based on customer requests, we’ve worked to expand our power market data catalog so asset operators can view all the information they need in our products – fast.
Recently, the Electric Reliability Council of Texas (ERCOT) introduced three new datasets that provide increased visibility into market dynamics, and we have integrated this data into our products so asset operators and IPPs can make strategic decisions using it.
ERCOT Energy Storage (ESR) Data
ERCOT released the Energy Storage Resources (ESR) dashboard in December 2023. This dashboard provides asset operators visibility into the state of batteries, including charging and discharging. This data provides another piece of information to predict near-term price movement. For example, if you see an increase in megawatts (MWs) of batteries charging, combined with high load and a dropoff in wind production, an asset operator could expect a rise in prices.
ERCOT reports this data at the system-wide level and it is updated every five minutes. This is valuable because ERCOT is one of few ISOs to provide visibility into how ESRs play a role in meeting or contributing to demand during highly volatile times. You can now access this data throughout all our products, including PowerSignals®, showcased below.
Source: Yes Energy, PowerSignals product. This shows sudden fluctuations in battery operations in ERCOT on 4/30/24.
ERCOT Generation Outages Data
In December 2023 ERCOT also released the Generation Outages dashboard, which shows the total MWs of planned and forced generation outages for renewable and dispatchable generation facilities at the ISO level every five minutes. This is another piece of market information that provides asset operators visibility into the supply stack and near-term price movement. If there is significant capacity on forced outage it could be a leading indicator of price volatility in the real-time market. This dataset is most relevant to thermal and battery asset managers given that renewable generation is not as dispatchable.
We incorporated this dataset into all of our core products, including in our real-time dashboard product, QuickSignals®, shown below.
Source: Asset operators can use the new generation outage data in QuickSignals to monitor real-time fluctuations in generation capacity on outage.
ERCOT Contingency Reserve Service Data (ECRS)
In June 2023 ERCOT released the new ECRS ancillary service product that provides frequency regulation services on the grid. This is a new reserve service in ERCOT that generation and battery asset operators can participate in. Understanding the pricing trends in this data helps asset operators decide which ancillary service product is most lucrative and whether to participate in the energy or ancillary service markets in the real-time versus day-ahead markets.
We quickly responded to the introduction of the new ancillary service product and modified all our collectors so we would immediately gather this data when available.
Source: Yes Energy, PowerSignals product. This shows a time period in June 2023 that compares the day-ahead prices across the different ancillary service products in ERCOT. The ERCOT ECRS spiked to $536/MWh in the day-ahead market.
Conclusion
These upgrades are just another example of our commitment to providing better data, better delivery, and better direction to asset operators around the globe. Through these enhancements, we aim to help you have a deeper understanding of power markets to optimize your decisions.
Want to learn more about how access to better data can help you Win the Day AheadTM as an asset operator or IPP in ERCOT? Talk to our team of experts or request a demo.
