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With the unprecedented events of the last week in ERCOT, there are a lot of questions. Answers are elusive. In many ways, this is unchartered territory. On the other hand, there have been other notable events in US electricity and natural gas markets before, and the lessons from those experiences will likely be helpful as companies attempt to navigate the current situation.
Jeff Richter and Tim Belden have been deeply involved in wholesale electricity and natural gas markets since 1995. We’ve seen every event that has shaken this industry and had a front row seat for many of them. This includes: the first electricity market blowup in Cinergy in 1998, the western Energy crisis starting in 2000, the Enron bankruptcy in 2001, the wave of merchant energy bankruptcies in 2002, the natural gas price spikes in 2007, various hedge fund blow ups in the late 2000s, the first ERCOT price spikes in 2011, the Northeast’s polar vortex that hit in 2014 and 2015, SoCal natural gas spikes in the summer of 2018, ERCOT price spikes (again) in the summer of 2019, and WECC price spikes in the summer of 2020.
While each of these events represents a unique set of circumstances, certain patterns emerge related to the cause, the political response, and the market response. There are always high-level themes. But the devil is often in the details – for example, tariff provisions that are not fully appreciated or contract language that is not as clear as one would like it. EnergyGPS brings the combination of understanding the minute details associated with the recent events in ERCOT and the big picture impacts such that we can help clients to connect dots and see insights that they might not otherwise see. Based on our inbound emails and phone calls, many companies are trying to figure out what the implications of these events will mean for them. They are trying to figure out what the potential paths forward may look like.
EnergyGPS is offering 45-minute phone consults with either Tim Belden or Jeff Richter. On that call we will share with you the any insights that we’ve gleaned so far and answer any questions that you have. The cost of these consults is $500 which can be purchased via our web page and scheduled in the coming days. Those with urgent requests will be accommodated as best we can which includes nights and over the weekend. You may include as many people from within your firm as you would like on this call.
The process will work as follows:
• Click to purchase the 45-minute consult.
• Once you have purchased the consult, you will receive instructions on scheduling the call.
• We will schedule the call as quickly as needed.