Read the order here - it was capping prices, not raising them.
https://www.puc.texas.gov/51617WinterERCOTOrder.pdf
Question - does Griddy know the difference between a kilowatt hour and a megawatt hour?
“As provided in §25.505(g)(6)(D), once the PNM threshold is achieved, the system-wide offer cap is set at the low system-wide offer cap (LCAP), which is is “the greater of”
either “(i) $2,000 per MWh and $2,000 per MW per hour; or (ii) 50 times the natural gas price index value determined by ERCOT, expressed in dollars per MWh and dollars per MW per hour.”
Due to exceptionally high natural gas prices at this time, if the LCAP is calculated as “50 times the natural gas price index value,” it may exceed the high system-wide offer cap (HCAP) of $9,000 per MWh and $9,000 per MW per hour. 16 TAC § 25.505(g)(6).
This outcome would be contrary to the purpose of the rule, which is to protect consumers from substantially high prices in years with substantial generator revenues. It would make little sense to expose consumers to prices that are higher than the usual maximum price after a generator
revenue threshold has been achieved”
“RTORPA” is the Real-Time On-Line Reserve Price Adder (in $/MWh) for the SCED interval.
“RTORDPA” – Captures impact of reliability deployments
during SCED Interval
Slide 99: http://www.ercot.com/content/wcm/training_courses/109648/BTP201M6_REAL-TIME_Nov2016.pdf
It looks like the add on per megawatt was really added by ERCOT.
“Question - does Griddy know the difference between a kilowatt hour and a megawatt hour?”
What are you referring to?
Texans had a choice between fixed rate charges and variable......I suspect those with variable are going to get hit hard.