Articles tagged Ercot

Unable to gain traction, September Nymex natural gas futures saw early Wednesday gains ebbed away in favor of modest losses as tides were turning on fundamentals with lingering weather support expected to drift away into the fall shoulder season.

Houston-based CenterPoint Energy Inc., which has faced a barrage of criticism since Hurricane Beryl stormed ashore in early July, said it would cooperate with the investigations underway by Texas officials.

Natural gas generation capacity in Texas is set to soar by 2030, necessitating the need to incentivize a bigger generation build out, according to top Texas officials.

Utility Entergy Texas Inc. is forecasting the need to add 40% more generation capacity to its fleet to meet economic and population growth in southeast Texas.

Vistra Corp., which provides services nationwide to commercial, industrial, municipal and residential customers, has unveiled plans to add up to 2,000 MW of natural gas-fueled capacity across Texas to serve “rapidly increasing power demand,” CEO Jim Burke said.

With traders maneuvering ahead of a long holiday weekend, natural gas futures were headed for a second straight sell-off through midday Friday. Steep discounts were dominant in the physical market on deals for delivery over the Memorial Day break.

Spot natural gas prices for Wednesday flow at Waha and nearby delivery hubs in West Texas fell into negative territory as pipeline maintenance prevented some gas from leaving the basin and mild, spring-like weather reduced demand.

Natural gas futures sank below $3.000/MMBtu on Tuesday as markets looked past the immediate brutal cold to an expected warm-up in temperatures next week as indicated by increased confidence in weather models.

TotalEnergies SE, which has a bevy of U.S. energy assets, has agreed to pay $635 million to buy three natural gas-fired power plants in Texas to ensure customers have firm power and to bolster integrated power purchase agreements (PPA).

Texans on Tuesday cast ballots on a slate of constitutional amendments, with Proposition 7, which supplies state funds to add natural gas-fired power plants, resoundingly approved.