In addition to formal programs such as the Electric Reliability Council of Texas (ERCOT)’s Emergency Response Services and Load Resource programs, electricity loads can realize significant value through economic demand response and 4CP management. Customers are increasingly also adopting behind-the-meter generation and storage, enabling even greater utility cost minimization and energy optimization. To fully unlock the hidden value behind price fluctuations, adopting an innovative energy management solution driven by data and AI advancements is a must.
NextEra 360 comprehensive energy management software uses a data-first approach to leverage a 360°-view of energy generation and consumption data for customers in ERCOT and beyond. This AI-powered solution captures and analyzes data across a wide range of assets and sites to improve operational efficiency, reduce costs, and unlock savings.
ERCOT is the market, grid operator, and regulatory body that governs the electricity sector in Texas. Like any market, the ERCOT market is governed by supply and demand, in the form of electricity generators and consumer electricity demand, respectively. For example, if a generator trips offline and supply is down, ERCOT makes up for that missing supply by turning on more generators and incurring unanticipated costs. Weather also causes large increases or decreases in load, leading to significant price fluctuation on a day-to-day basis. In Texas, peak demand occurs during summer as air conditioners are heavily used to combat high temperatures. Other factors influence price over a longer term, such as the cost of new generation, transmission, and even distribution, as well as the work of grid operators to ensure reliability.
Regulatory bodies and rules greatly impact how electricity prices are determined and whether loads can capitalize on electricity price changes. ERCOT employs regulatory specialists who support the development of ERCOT programs that comply with current regulations.
Two of those programs collaborate with electricity loads to ensure reliable and efficient operations of the electric grid through demand fluctuations:
– David Abel, Manager of Policy & Strategy in Energy, NextEra Analytics
– Nicholas Licht, Technical Sales Lead, NextEra 360 NextEra Analytics
ERCOT Executive Summary
The panelists shared strategies that electric loads can leverage to optimize energy consumption and capitalize on price fluctuations.
In this webinar, you’ll discover how NextEra Energy systems enable demand charge and 4CP management, thereby minimizing utility costs and optimizing energy.
TBD Resource