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System Lambda, i.e. the Shadow Price for the Power Balance constraint, is equal to the change in the SCED objective function obtained by relaxing the Power Balance constraint by 1MW. The System Lambda is the energy component of Locational Marginal Price at each Settlement Point in ERCOT.

ERCOT set an all-time peak demand record of 85,464 MW on August 10, 2023. ERCOT set a new unofficial September peak demand record of 84,182 MW* on Wednesday, September 8, 2023, surpassing the previous September peak of 83,911 MW* set on September 7.

The highest price from the simulation is around $1,600/MWh, well below the new reduced offer cap of $5,000/MWh. Average prices in 2023 are higher than those in 2022 by about $10/MWh, mainly due to higher forecasted fuel prices. Historical monthly load zone prices are shown in Figure 6.

The Peaker Net Margin (PNM) threshold is calculated as three times the Cost of New Entry (CONE) for a reference generation resource plant .

ERCOT's latest biennial Capacity, Demand and Reserves report, released May 3, shows base scenario reserve margins for summer rising from summer 2023's 23.2% to 33.9% in 2024 and 44.2% in 2025. Margins would slowly fall thereafter but remain above 37% through 2033.

Ancillary Services is a graphical representation of the deployment and remaining availability of reliability products used to support the transmission of energy to Loads and the reliable operation of the Bulk Electric System. Service Type.

The Peaker Net Margin (PNM) threshold is calculated as three times the Cost of New Entry (CONE) for a reference generation resource plant .