56 - An intro to ERCOT with Alex Done (Lead data scientist @ Modo Energy)
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The Importance of Merchant Risk in the Backstreet Market
In the UK, we used to have like merchant markets. And then we had an subsidiary market, which were all sort of contracted ahead of time for months at a time - potentially. In ERCOT, that doesn't happen. You've got no capacity markets all day ahead. So you build an asset. There is no guaranteed revenues. It's like, build it and go to the races. They don't really talk about merchant over there. Yeah. That was one of the first mistakes that I think I made chatting to someone in Texas about the backstreet market. But they're like, what do you mean? It'slike, it's all day Ahead. I really like
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