The start of full nodal operations officially began at midnight on November 30th when the nodal prices became the binding prices to be used in financial settlement and billing, replacing the zonal market that has been in place since 2001.
“This is a major step forward for the ERCOT region and the 22 million consumers we serve,” President and CEO Trip Doggett said. “The new nodal market gives ERCOT improved tools to manage grid reliability and transmission congestion with more transparent pricing and individual unit management.”
Several of the major nodal systems have been running for a week or more in a non-binding mode as part of a “soft” market launch.
Doggett said the nodal team is already working on additional refinements that were postponed until after the go-live date.