121–130 of 266 posts
Context: > For wind developers, federal tax credits also are a contributing factor, even allowing the wind resources to make offers at negative prices. However, low and/or negative offers are not limited to any particular resource, and it is not uncommon for thermal generators to submit negative prices to decrease their chances of being dispatched below their desired or capable levels. > ... > Market prices tend to g…
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> I ask because I broadly understand ERCOT to have delivered the lowest prices and the highest reliability over the last decade. Until they didn't. Until any money savings you may have gotten over the last decade was eaten up by what will be the cost of the burst pipes and flooding of your house. How are ERCOT's prices compared to El Paso's? > El Paso Electric said they always try to prepare for the future and after…
That’s great that El Paso got this failure mode right. Are there other modes that they de-prioritized? Is holding them up as a model of success a form of "resulting" [0] since we don't know what counterfactuals in which they would have failed? El Paso Energy is interesting bc it represents the old school community monopoly.[1] I wonder if the JPM buyout will help or hinder its mission. 0. https://nautil.us/issue/55/t…
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Honestly, I reach a very different conclusion. Comparing ERCOT to other grids (PJM or CALISO), ERCOT system has delivered very low prices and very high levels of renewable penetrations. PJM wastes billions of dollars a year in capacity payments to coal plants for no reason. What you write, "The market in power should only exist to optimise" well, that is exactly what ERCOT does. As for the disaster last week, that wa…
I'm sorry but how does a trace element affect the polar vortex/ jetstream bending. It doesn't. Its not a good argument if all weather situations can be explained by "climate change". It's too hot - climate change It's too cold - climate change What you are describing is called weather.
Note that it is from January 10th.
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There is no way it would be effecient to perpetually store 1000X your regular demand just to upsell in an unprecendented crisis, regardless of price gouging policies.
This is super predictable behavior in storm areas like Texas. Hurricanes come, everyone goes for gas, places start to run out of gas, nobody can raise rates, they run out of gas. Even a double normal price could easily pay off a much larger tank.
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Strongly agree. Free markets often fail to adopt low cost protections to tail events. E.g. the free market didn't get us 100% of new cars having seatbelts and airbags, government requirements did. And those standards were fought by the car manufacturers. My point is we need regulations to mandate our energy system to be resilient to outlier events (heat/cold/flooding/high wind etc.) and that's a government function s…
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Give it up.
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Free markets seem to do a bad job with resiliency. Redundancies, winterisation, warehousing N95 masks just in case, etc is treated as inefficiency by a free market and eliminated. These aren’t externalities - is there an economics name for this? I’m sure it’s been noticed before.
Free markets do account for huge shortages, but we’ve eliminated the motivation for actors to do something about it with anti price-gouging regulations. There would be tons of stockpiles if businesses could appropriately upcharge when there was mass panic buying. Instead we stupidly lock prices, which wipes out most of the point of paying extra storage costs compared to a just in time competitor. The problem is we’ve…
People also find the idea that only the rich can afford to have heat so that the pipes in their walls don’t burst distasteful.
Here's raw table data to look at 15 min spot price per mWh http://www.ercot.com/content/cdr/html/20210220_real_time_spp Here's overall grid conditions in real-time http://www.ercot.com/content/cdr/html/real_time_system_condi... You can see the massive excess capacity which is why pricing has gone negative now, total opposite of earlier in the week, grid may fail now from overload instead of brown out.
Any indication of what those links showed? I get ‘Access denied’.
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I agree, I feel the burden of proof is in the new theory, rather than - here is a hypothesis, prove its wrong. It's pretty clear in the small scale studies co2 concentration affects temperature in the direction or warming in the long term and the short term affect of cooling because less energy makes it to the surface. (Similar to clouds or smog/ smoke blocking light) But a causing extreme cold weather events..
> the short term affect of cooling because less energy makes it to the surface That's absolutely not true, and I've never even heard climate change skeptics argue that.
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I'm sorry but how does a trace element affect the polar vortex/ jetstream bending. It doesn't. Its not a good argument if all weather situations can be explained by "climate change". It's too hot - climate change It's too cold - climate change What you are describing is called weather.
There's lots of ways global warming could lead to colder winters.[0] For example, the temperature differential between Arctic and mid-latitude air normally keeps the polar vortex contained. As this differential decreases, however, the polar vortex becomes less contained. As such, the maximum latitude reached by the jet stream increases with the Arctic's temperature. This creates colder weather in some places. [1] [2]…
strangely every time i have tried to access the ercot site i keep get an "access denied" error. i wonder if it is because it thinks i am in europe, or maybe some other reason.