Introducing high fidelity energy community layers for PRISM
Last year’s Inflation Reduction Act (IRA) included several adders of particular interest for renewable energy developers. The Energy Community Tax Credit Bonus increases the investment tax credit an extra 10% for projects that began operating after Dec. 31, 2022, and are within one of four qualifying energy communities. Two of the energy communities seek to […]
Powering through outage season: A breakdown of PJM’s WHUB/NIHUB spread
It’s that time of year when generator and transmission outages are at their peak in PJM. The first half of April has not disappointed volatility-wise as the WHUB/NIHUB spread has set new 30-day highs largely driven by congestion. Figure 1: Day-ahead WHUB/NIHUB MCC spread for the last 30 days with the constraints driving this spread […]
Introduction to power purchase agreements for renewable energy
Power purchase agreements (PPAs) are an essential tool for traditional and renewable developers and buyers. A PPA is a contractual agreement between a generator and a buyer that outlines the purchase of electricity or ancillary services for a set time period. Developers can benefit from PPAs by securing a long-term revenue stream for their projects, […]
The Texas power market evolution
Performance credit mechanism In a decision that could reshape Texas’ power market, The Public Utilities Commission of Texas (PUCT) voted Jan. 17 to adopt the performance credit mechanism (PCM) market design, a strategy developed by consultant E3 in partnership with the commission. The PCM mechanism aims to provide payments to power units that are available […]
6 reasons to attend the Enverus 2023 EVOLVE Conference
The energy industry is rapidly evolving, affecting everyone from oil and gas operators, refiners and service providers, to renewables players, investors and power traders. EVOLVE is a two-day virtual event that combines our Play-by-Play Conference, led by our world class oil and gas and energy transition Intelligence team, with some of the most respected experts […]
The impact of load growth and datacenters on ERCOT prices: A new era for West Texas?
In the past, the energy market experienced significantly low prices during extreme lows of net load in West Texas. However, recent observations indicate these ultra-low prices are becoming rarer. The increasing presence of price sensitive datacenters in West Texas is believed to be a major driver behind this change. Let’s explore the effects of these […]
Winds of change in Texas power: Unraveling the implications of Senate Bill 6 for ERCOT’s energy future
The Texas Senate Business and Commerce Committee will be meeting Thursday, March 23, to discuss several energy bills related to the Texas power market. Senate Bill 6, which introduces the Texas Energy Insurance Program (TEIP), is one of the items to be discussed. This bill has the potential to fundamentally alter the structure of the Texas […]
Enverus Learning and Development helps professionals level up job skills
Changing environmental attitudes, job engagement, an aging workforce, new technologies … these are just a few things affecting the energy workforce today. A recent survey of global energy industry recruiters and workers reflects these shifts, indicating their importance for all energy producers, from oil and gas to renewable energy. It’s becoming clear how crucial […]
Transmission Projects Advance in New York and New England
The Northeastern U.S. has some of the most ambitious decarbonization goals in the nation, and some of the most vocal detractors to new infrastructure. This is notable when any project advances, let alone begins construction, as in the case of the Champlain Hudson Power Express (CHPE) HVDC line. Meanwhile, a project in Maine is in […]
What’s Really Wrong With ERCOT?
Since early 2020, ERCOT has experienced tremendous load growth. From 2019 to 2021, the number of 4CP days grew approximately 4%, and reached 11% in 2022. During this time, Off-Peak load growth, which is likely coming from datacenters, has outpaced On-Peak load growth. During the COVID-19 pandemic, lockdowns kept people in their homes. This required […]