ERCOT Outage: How Large a Role Did Natural Gas Play?

The cold snap that hit the central U.S. in mid-February not only crippled Texas, but also supported price spikes from neighboring states all the way to California. The Southwest Power Pool (SPP) and Midcontinent Independent System Operator (MISO) manage the electricity grid for Oklahoma (SPP) and Louisiana (MISO). In addition, the California ISO (CAISO), which manages SP-15’s southern California area, was impacted by high natural gas prices that sent wholesale power prices soaring. During the cold snap, MISO and SPP sent out emergency alerts on February 14, 2020, for February 16-17 as load shedding, or demand reduction, was expected. Record load of over 42 GW was measured Monday and Tuesday in SPP.  Blackouts were experienced in Oklahoma and Louisiana with 75,000 of Entergy’s MISO south residential clients losing power and SPP shedding load Tuesday morning.  Prices in MISO south moved as high as $3,000 on the evening of February 16 and nearly $20,000 the evening of February 15 in SPP. In California, where temperatures were mild, gas prices were ~$128/MMBtu from Feb 12-15. Power prices were nearly $1,000 the morning and the evening of February 17. WEBINAR: Gas Production Forecasting & Pipeline Monitoring During a Supply Crisis. Join us March… continue reading

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Source: CTRM Center

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