Market Stress & Structural Progress

North American wholesale electricity markets during the week ending February 13, 2026, were mainly shaped by Winter Storm Fern, which tested grid resilience and winterization efforts across the Eastern Interconnection and ERCOT. Despite increased demand and localized price spikes, the bulk power system remained stable, supported by strong battery storage performance and better fuel assurance measures. This period also saw important regulatory progress as CAISO and SPP submitted major tariff updates to support their regional day-ahead market initiatives, indicating a continued move toward greater Western market integration.