What does ERCOT’s Failed Procurement Mean?

How likely is a repeat of Winter Storm Uri now that ERCOT has canceled its attempt to buy 3,000 megawatts?

Courtesy of ERCOT

In early October, ERCOT told us there was a one-in-seven chance of rolling outages in December. Not great.

ERCOT’s response: Try to buy 3,000 megawatts of additional capacity in time for January and February, principally from retired coal and gas plants. 

It was an audacious and bizarre move. CPS Energy CEO Rudy Garza said publicly what m…