Capacity Archives

Ghizlene Mejdi In Capacity, Market Views

ERCOT Price Spikes: Causes, Historical Patterns and What to Expect in 2026

ERCOT, the Electric Reliability Council of Texas, operates the most volatile wholesale power market in the United States. No other ISO combines a largely isolated…

Philippe Schicker In Capacity, Market Views, Power

Quack Economics: What the Duck Curve Actually Prices in 2026

The shape CAISO warned about in 2013 is no longer a warning; it's the market's operating system. The Duck Has a Day-Ahead Market Now On…

Yaniv Yaffe In Capacity, Market Views, Power

Four Bets on the Grid: How Data Centers are Solving the Power Problem

Data Centers and the Power Problem The bottleneck in data center development has changed. When the AI boom started, we naively assumed it would be…

Philippe Schicker In Capacity, Market Views

Nice Grid You’ve Got There – Mind Paying For It?

FERC's June Deadline & End of the Large-Load Grey Zone For the last year and a half, the economics of siting a gigawatt of data…

Ghizlene Mejdi In Capacity, Market Views

The ELCC Crunch: How Shifting Capacity Values are Redefining Asset Valuation

In today's U.S. capacity markets, two acronyms are increasingly shaping investment decisions: ELCC (Effective Load-Carrying Capability) and DSCR (Debt Service Coverage Ratio). They are no…

Peter Gardett In Capacity, Market Views, Power

PJM gas bid fever may be breaking

The sale of four natural gas units by Constellation to LS Power for roughly $5 billion is not cheap by any description, but it does…

Peter Gardett In Capacity, Market Views

Why the PJM 3IA Prices Cleared So Low

The 2026/2027 PJM 3rd Incremental Auction (3IA) cleared at $164/MW-day, well below the Base Residual Auction cap of $329.17/MW-day. The gap has generated questions from…

Peter Gardett In Capacity, Market Views

Determining Demand in PJM: Auction Edition

Lack of demand side visibility in US power and capacity markets remains shocking. As the largest US power market braces for a 15-year, $150 billion…

Peter Gardett In Capacity, Market Views

Project Finance and PJM: Auction Repercussions

With $150 billion of capacity revenue at stake, PJM's planning for a long-term auction process later this year has outsized stakes for project finance in…

Peter Gardett In Capacity, Market Views

Scarcity, Stabilized: Why PJM Isn’t Ready to Let Capacity Prices Run

PJM's Base Residual Auction for Delivery Year 2027/28 cleared at the Cost of New Entry, approximately $333/MW-day. That outcome was not a market anomaly. It…

Peter Gardett In Capacity, Market Views, Power

Why keeping coal online will be so expensive

Investors regularly optimize for demand growth but often struggle to model the complexity imposed by supply constraints. In energy, remembering both sides of the equation…

Peter Gardett In Capacity, Market Views, Power

The Shape of the Storm: Lessons from Fern

Energy transition investors kept the US energy economy humming during the real world climate risk “stress test” of the last week. As system strains mount…

Capacity20

ERCOT Price Spikes: Causes, Historical Patterns and What to Expect in 2026

Quack Economics: What the Duck Curve Actually Prices in 2026

Four Bets on the Grid: How Data Centers are Solving the Power Problem

Nice Grid You’ve Got There – Mind Paying For It?

The ELCC Crunch: How Shifting Capacity Values are Redefining Asset Valuation

PJM gas bid fever may be breaking

Why the PJM 3IA Prices Cleared So Low

Determining Demand in PJM: Auction Edition

Project Finance and PJM: Auction Repercussions

Scarcity, Stabilized: Why PJM Isn’t Ready to Let Capacity Prices Run

Why keeping coal online will be so expensive

The Shape of the Storm: Lessons from Fern

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