Platts proposes new North American Renewable Capture Rates

Platts, part of S&P Global Commodity Insights, proposes to launch new daily renewable capture rates, effective June 4, to provide further transparency about the value of renewable energy across the United States.

Capture rates are important because they measure the economic performance of renewable energy generation by indicating the revenue realized compared to the potential revenue at the baseload power price. High capture rates suggest effective market integration and profitability, while low rates may highlight challenges, influencing investment decisions and energy policy development.

For example, a 50% capture rate in the context of renewable energy indicates that half of the potential renewable energy resources available in a specific area or system are being effectively harnessed and converted into usable power. This indicates potential challenges in market integration, pricing competitiveness, or demand for renewable energy, signaling that improvements may be needed to enhance profitability and market performance.

Platts will publish daily renewable capture rates in seven North American ISOs: California Independent System Operator, Electric Reliability Council of Texas, ISO New England, Midcontinent Independent System Operator, New York Independent System Operator, PJM Interconnection, and Southwest Power Pool.

Wind capture rates will be published for CAISO, ERCOT, ISONE, MISO, NYISO, PJM and SPP, and solar capture rates will be published for CAISO, ERCOT, ISONE, MISO and PJM.

Platts will utilize already published capture prices from across the US, along with the wholesale electricity prices from ISOs for the corresponding hubs and zones.

Renewable Capture Price Rates will be measured in %.

The new prices will be published in Megawatt Daily, Energy Trader, Platts Connect and Alert Pages PEA1108 and AGP1518.

Please address any questions or comments to powerpricing@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and make comments not marked as confidential available upon request.