North rejoins West’s evening strength
ERCOT daily briefing
Issue of Nov 11 · generated 8:05 AM CTLatest
Bottom line
North’s rebound ends the weak-North setup, while West keeps the price lead. Tonight’s $28/MWh West–North clearance deserves attention: does West outperform, or does North slip back?
North and West ran $25 and $24/MWh above day-ahead, respectively, from 5 PM until 8 PM CST Nov. 10, replacing yesterday’s weak-North setup.
West–North clears at $28/MWh from 5 PM until 8 PM Nov. 11, versus $14 for yesterday’s matching hours; both hubs clear higher.
West–North averaging above $28/MWh from 5 PM until 8 PM Nov. 11, with North also averaging below day-ahead, would revive the weak-North split; widening with both hubs above day-ahead would instead mean West outperformance.
The story so far
- West retains the price lead despite two declining issue windows, with $57/MWh real time still above its $48 seven-issue and $34 month baselines.New
- West–North realized
- $14/MWh
- Nov. 10, 5–8 PM; $14 cleared
- West–North cleared
- $28/MWh
- Nov. 11, 5–8 PM; twice the prior clearance
The original evening test delivered a West–North premium of $13.53/MWh against $14.16 cleared. North’s rebound preceded the 7 PM surge: from 5 PM until 7 PM Nov. 10, it already ran $10.41/MWh above day-ahead. South missed day-ahead by $7.77/MWh over the full three-hour test, so this was not an all-hub rally.
Across Nov. 10 at 8 AM to Nov. 11 at 8 AM, North averaged $43.94/MWh, up from $33.26 in the preceding issue window; West eased to $56.74 from $62.69. West’s two-window retreat still leaves it above its previous seven-issue $47.86 and 30-issue $34.04 averages. North’s recovery changes the regional picture without establishing a renewed joint rally.
Tonight’s early-evening clearance puts West at $103.17/MWh and North at $75.28/MWh. Later, from 8 PM until 11 PM Nov. 11, Metis 1 Preview’s middle forecast puts Hub Average at $77.31/MWh against $82.69 cleared. That modest gap and the model’s wide range leave regional delivery against clearance as the stronger desk focus.
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All issues
| Issue | Generated | |
|---|---|---|
| Nov 10 to Nov 11, 2026Reading | Nov 11, 2026 | |
| Nov 9 to Nov 10, 2026 | Nov 10, 2026 | |
| Nov 8 to Nov 9, 2026 | Nov 9, 2026 | |
| Nov 7 to Nov 8, 2026 | Nov 8, 2026 | |
| Nov 6 to Nov 7, 2026 | Nov 7, 2026 |