ERCOT now at EEA 2A (electric emergency alert) now warning for the potential need for rotating outages. Realtime LMP is printing $3000/mwh and ERCOT has run through the bid stack and ancillaries. The word is that Oncor has called on their summer demand response program beginning at 4:00 today and 50% of LAAR has now been called and deployed. No calls for EILS yet at this time. The grid is stressed to the max and load for tomorrow, Friday, and Monday look higher.
From a 4CP perspective, an independent load forecasting service puts Friday at forecast at 68,361 and Monday’s load is being forecast at a staggering 68,890 MW.
Market participants are watching conditions and markets very closely, expect further updates through this week and into the next.