ERCOT July 2026 benchmark: spreads land 36% below last July despite heat; May revenues settle at $1.67/kW-month
ERCOT July 2026 benchmark: spreads land 36% below last July despite heat; May revenues settle at $1.67/kW-month
July brought limited volatility and battery revenue opportunity back to ERCOT. Day-Ahead TB1 spreads averaged $45/MWh, up 59% from June's floor of $28/MWh, though still 36% below July 2025. Real-Time TB1 spreads reached $40/MWh, down 46% year-over-year. Two hot days on July 21 and 22 drove most of the recovery since the previous month.
May, the latest month with settled revenues, saw average battery revenues of $1.67/kW-month; down 46% from April's $3.10 and 64% below May 2025, when scarcity pricing lifted the fleet to $4.66/kW.
Have any questions or feedback? Contact the author at alejandro@modoenergy.com.
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