West–Houston misses again while tonight still prices a $25 premium
ERCOT daily briefing
Issue of Nov 8 · generated 8:03 AM CTLatest
Bottom line
West–Houston remains the desk focus: its late premium compressed despite broad prices beating day-ahead. Tonight prices $25/MWh again on a lower outright curve.
West’s premium over Houston averaged $8/MWh versus $26/MWh cleared from 8 PM until 11 PM CST Nov. 7, extending the regional shortfall to a second evening.
Tonight’s West–Houston premium clears at $25/MWh from 8 PM until 11 PM Nov. 8, while Hub Average clears at $48/MWh and Metis 1 Preview is closely aligned.
West–Houston missing its $25/MWh cleared premium from 8 PM until 11 PM Nov. 8 while Hub Average meets its $48/MWh clearance would repeat the regional miss; delivery of the premium would break the pattern.
The story so far
- West–Houston underdelivered for a second evening, but tonight still clears near a $25/MWh premium on lower outright prices.Day 2
- Late realized premium
- $8/MWh
- West over Houston; $26 cleared, Nov. 7, 8–11 PM
- Tonight’s premium
- $25/MWh
- West over Houston, Nov. 8, 8–11 PM
Both legs compressed the Nov. 7 late spread. West averaged $68.29/MWh against $78.73/MWh day-ahead, while Houston averaged $60.22/MWh against $52.41/MWh. The matched-hour premium was $8.07/MWh versus $26.32/MWh cleared. Hub Average nevertheless delivered $63.84/MWh against $61.74/MWh, and every regional hub except West beat clearance: the shortfall was regional, not another broad late-market miss.
Tonight’s same-window West and Houston clearances are $64.91/MWh and $39.49/MWh, preserving a $25.42/MWh premium. Hub Average clears at $48.21/MWh versus yesterday’s $61.74/MWh. Metis 1 Preview, issued Nov. 8 at 6:55 AM CST, averages $47.83/MWh for those hours, leaving little gap against the cleared price.
The broader price rebound has strengthened: rolling 24-hour Hub Average real time reached $45.18/MWh, its third consecutive increase, versus $37.29/MWh across the previous seven issues and $33.18/MWh across the previous 30. The latest hour also shows regional separation: in the hour beginning 7 AM Nov. 8, North ran $35.73/MWh above day-ahead and West $28.99/MWh above, versus Houston’s $6.15/MWh premium and South’s $3.95/MWh shortfall.
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All issues
| Issue | Generated | |
|---|---|---|
| Nov 7 to Nov 8, 2026Reading | Nov 8, 2026 | |
| Nov 6 to Nov 7, 2026 | Nov 7, 2026 | |
| Nov 5 to Nov 6, 2026 | Nov 6, 2026 | |
| Nov 4 to Nov 5, 2026 | Nov 5, 2026 | |
| Nov 3 to Nov 4, 2026 | Nov 4, 2026 |