Platts launches new North American Renewable Capture Rates

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

Details of the capture rates are as follows:

Symbol Symbol Description

CESAA00 CAISO NP15 Gen Hub Wind Capture Rate

CESMB00 CAISO SP15 Gen Hub Wind Capture Rate

CESMC00 CAISO NP15 Gen Hub Solar Capture Rate

CESMD00 CAISO SP15 Gen Hub Solar Capture Rate

CESME00 CAISO ZP26 Gen Hub Solar Capture Rate

CESMF00 ERCOT North Hub Wind Capture Rate

CESMG00 ERCOT West Hub Wind Capture Rate

CESMH00 ERCOT South Hub Wind Capture Rate

CESMI00 ERCOT North Zn wavg. LMP Wind Capture Rate

CESMJ00 ERCOT West Zn wavg. LMP Wind Capture Rate

CESMK00 ERCOT South Zn wavg. LMP Wind Capture Rate

CESML00 ERCOT North Hub Solar Capture Rate

CESMM00 ERCOT West Hub Solar Capture Rate

CESMN00 ERCOT South Hub Solar Capture Rate

CESMO00 SPP North Hub Wind Capture Rate

CESMP00 SPP South Hub Wind Capture Rate

CESMQ00 MISO Minnesota Hub Wind Capture Rate

CESMR00 MISO Indiana Hub Wind Capture Rate

CESMS00 MISO Minnesota Hub Solar Capture Rate

CESMT00 MISO Indiana Hub Solar Capture Rate

CESMU00 MISO Louisiana Hub Solar Capture Rate

CESMV00 PJM Western Hub Wind Capture Rate

CESMW00 PJM Northern Illinois Hub Wind Capture Rate

CESMX00 PJM Dominion Hub Wind Capture Rate

CESMY00 PJM Western Hub Solar Capture Rate

CESMZ00 PJM Northern Illinois Hub Solar Capture Rate

CESNA00 PJM Dominion Hub Solar Capture Rate

CESNB00 NYISO Hudson Valley Zone Wind Capture Rate

CESNC00 NYISO West Zone Wind Capture Rate

CESND00 ISONE Internal Hub Wind Capture Rate

CESNE00 ISONE Internal Hub Solar Capture Rate

CESNF00 ERCOT North Zn Weighted Average LMP Solar Capture Rate

CESNG00 ERCOT West Zn Weighted Average LMP Solar Capture Rate

CESNH00 ERCOT South Zn Weighted Average LMP Solar Capture Rate

Capture rates are important because they measure the economic performance of renewable energy generation by indicating the revenue realized compared with 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 shows 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 publishes 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 are published for CAISO, ERCOT, ISONE, MISO, NYISO, PJM and SPP, and solar capture rates are published for CAISO, ERCOT, ISONE, MISO and PJM.

Platts utilizes published capture prices from across the US and wholesale electricity prices from ISOs for the corresponding hubs and zones. Renewable Capture Price Rates are measured in %.

The new capture rates were proposed in a subscriber note published March 28 here: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/032825-platts-proposes-new-north-american-renewable-capture-rates.

The new prices are published in Megawatt Daily, Energy Trader, 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 will make comments not marked as confidential available upon request.