Between 6pm and 7pm on Monday (March 4th), Real-Time prices in ERCOT reached nearly $1,000/MWh in multiple settlement intervals.
As a result, battery energy storage systems responded with a maximum net output of 1,041 MW.
![](https://images.storychief.com/account_26864/4th-march-1_71b87aa081d3ef2af87c1bc15e10843e_800.png)
These high prices occurred despite Net Load peaking at 46.2 GW - just 65% of January’s all-time record of 70.7 GW.
So, what drove Monday night’s scarcity?
![](https://images.storychief.com/account_26864/4th-march-2_df3af549f526add27ed309ede61f0a21_800.png)
The start of March marked the end of the winter embargo for planned generation outages in ERCOT - i.e. generators were able to take planned outages again.
![](https://images.storychief.com/account_26864/march-4th-chart-25_0690b4101ea2817c0ceba4439bcd73a2_800.png)
The amount of thermal capacity unavailable (due to both planned and forced outages) nearly doubled in a matter of days - from 11.7 GW on February 29th, to 22.4 GW during the highest-priced hour of March 4th.
On top of this, wind generation was well below its 30-day rolling average.
So, as the sun was setting on Monday and solar generation was falling, ERCOT only had 4-5 GW of wind generation available.
![](https://images.storychief.com/account_26864/4th-march-3_f9d19407dd1732257444c97c100337c2_800.png)
This resulted in Net Load increasing rapidly as the sun set - with reduced levels of available generation able to meet this Net Load ramp.
![](https://images.storychief.com/account_26864/4th-march-4_23a5b78693cdf8fb1df2a388c39fdc32_800.png)
Ultimately, the amount of capacity available to the economic dispatch fell to just 842 MW at 6:25pm - and System Lambda reached $885/MWh in the following SCED intervals.
![](https://images.storychief.com/account_26864/4th-march-5_aa31cfbf7da6670fc6f3f27343a024a9_800.png)
Battery energy storage systems responded with a maximum net output of 1,041 MW - during the 6:35pm SCED interval.
![](https://images.storychief.com/account_26864/4th-march-6_32ceec25f77c4c42f0e600dc855094b5_800.png)
And ERCOT manually deployed 550 MW of ECRS to help meet the short-term scarcity.
![](https://images.storychief.com/account_26864/4th-march-7_54731563d992324c2faa73eaa06dcdef_800.png)
This helped to alleviate the scarcity, and subsequently bring System Lambda back down.