Markets / ERCOT
ERCOT (Texas)
By far the deepest merchant firm-gas queue in the US, and the only one at real scale.
8.8GW
Deliverable gas
60GW
Existing gas
3.5GW
Planned gas
Deliverable = signed interconnection agreement, in service by 2028, merchant (reconciled from the ISO's own queue). Existing and planned from EIA-860M.
ERCOT is the market where the interconnection queue is the clearest supply signal. It is energy-only and merchant, so developers commit through the queue, and a signed, near-term queue position is contractable inventory. The deliverable set, gas that is merchant, holds a signed interconnection agreement, and comes online by 2028, is 8.8 GW. That is only 13 percent of the 69.7 GW gross gas queue, and it sits in roughly fifteen counterparties.
The deliverable gas is also concentrated in place: about 60 percent sits in the West zone (the Permian corridor), and almost none is behind the DFW load pocket, where much of the demand wants to be. Firm power in ERCOT is a location question as much as a supply question.
For a buyer, ERCOT is the market where you can strike a bilateral merchant offtake at speed, but the deliverable pool is thin and countable, so procurement runs as origination against named developers, not as sourcing against a clearing price.