Nodal

Texas’ competitive electricity market, hailed by some as the most mature market in the nation, is on the verge of instituting a new system to improve electric grid performance and increase transmission efficiency to provide the lowest possible costs for consumers. The Electric Reliability Council of Texas’ (ERCOT) transition from a “zonal” market to a “nodal” market will take place on December 1st.
 

Average wholesale electricity prices in the Electric Reliability Council of Texas (ERCOT) have once again dropped, providing even more benefits for consumers coping with the economic downturn, according to ERCOT’s 2009 State of the Market Report. Prices fell 56 percent from 2008’s average price to $34.03 per megawatt-hour (MWh), the lowest price experienced by any U.S. electricity market.