What happened in ERCOT yesterday? I am hearing some hubs were $500/MWh, the Asset Management guys are parting like it is 1999 right now.
This is why you need capacity in merchant markets; no one will build or finance peakers without capacity payments. If it is the weather at least the generators will repay the ISO for not being on call, thus they have an incentive to have the latest technology. Peakers in the PJME & Nepool deal with cold weather all the time.
Ohh, Texas will you ever learn? So much for perfect merchant markets
PJM sometimes reaches $500 per MWH and the RPM cap market has been getting assailed as of late. Many zones prefer FRR rather than FTR auctions. Also, follow the cap money: it's gone to ILR rather than new generation as of late, which is equally important, so no need to look for cap market simply for additional generation.
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