As of December 1, 2010 the ERCOT market implemented a nodal market structure. The ERCOT market consists of day-ahead and real-time markets. The day-ahead market is a forward market in which hourly LMPS (Locational Marginal Pricing) are calculated for the next operating day based on generation offers, demand bids and scheduled bilateral transactions. This is noted as the DA LMP. The real-time market is a spot market that post RTSPP’s (Real Time Settlement Point Prices) for each Load Zone and for the trading hubs within the zones. The RTSPP are posted at 15 minutes intervals for Balancing Energy deployed during the Settlement interval.
The map below shows the current prices for the ERCOT regions.
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What is our source for ERCOT real-time index pricing?
ERCOT provides a real time SPP report for load zones and hubs on its website.
How is the zonal price determined?
Texas is divided into four competitive load zones each having thousands of nodes. Each load zone has one Settlement Point Price (SPP) for the zone. The RT SPP for each load zone is the weighted average price for all the nodes within the zone.
What is the difference between the real-time and the day-ahead markets?
Suppliers can purchase power from the day-ahead market to meet the following day's forecasted usage. The real-time market is a balancing market where generators bid on excess demand intraday. An energy consumer on the real-time index will pay a different rate each interval based on the winning bid. GDF SUEZ Energy Resources offers index products based on the real-time markets.
Should I choose an index based energy contract?
Contact your account manager at GDF SUEZ Energy Resources to discuss the pros and cons of index based pricing. Each customer has different needs and levels of risk tolerance. A well-informed account manager can help you to determine the product option that is best for you.