Case Studies
Optimizing Operations in ERCOT’s May 2024 Heatwave
Context
Prolonged Heatwave in ERCOT
In May 2024, ERCOT experienced a prolonged heatwave. Storage operators able to forecast and plan for the periods when prices would be highest were able to capture significant revenue – and support grid reliability.
Tyba’s real-time reforcasting enabled our customers to capture unexpected price spikes, and maximize revenue throughout the month.
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40%
Revenue outcomesTyba’s strategy outperformed top assets by up to 40%
Operating strategy
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Accurate price forecasts
Forecasted correct hours and products for price spikes.
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State of charge management
Proactively managed state of charge to mitigate risk.
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Bespoke daily strategies
Developed a dispatch strategy to account for the unique market conditions.
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Dynamic bidding approach
Automated dispatch optimization and state of charge management to ensure incremental real-time revenue capture.
Capturing outsized revenue for one of the world’s largest large energy producers
Tyba’s optimizer balanced Ancillary Services (AS) with energy arbitrage throughout the month. This delivers consistent revenue without Failure to Provide risk. Our platform also shows outsized returns on days when grid conditions are tight – or unexpected price spikes occur.
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Top-Tier Revenue Outcomes
Our strategy net higher revenue than top performing ERCOT assets.
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Balanced Operating Strategy
We balanced energy with Ancillary Service products to configure unique daily strategies based on market conditions.
Operating Day Deep Dive | May 7th
Given high zonal volatility, maintaining the agility to react to real-time signals can lead to a 5x difference in revenue outcomes.
On May 7th, we helped a storage operator capture unusually high RT energy prices in the morning, and recharge during low mid-day prices so capture a second peak in the early evening.
Every day in ERCOT is different. Tyba’s platform helps leading BESS operators
develop and execute winning operating strategies.