ERCOT 12CP (PUCT proposal) · estimate
Ionic Digital and Nscale, Ward County, Texas
A 234 MW campus asking ERCOT for 700. While draw trails the request, a contracted-peak minimum bills the difference.
Added a year by the large-load minimum
$31,110,160
on 466 MW announced but not yet drawn, at $66.76/kW-yr
Billed on draw alone$15,621,840With the minimum$46,732,000
If nothing changes for 20 years, the minimum adds $622,203,200, nominal. As draw catches up, the gap closes.
What the estimate uses
- 700 MW treated as contracted peak: the campus's full aggregate demand once ERCOT approves the remaining 466 MW, targeted for the end of 2027.
- 234 MW treated as normal draw at peak hours: the operating capacity Ionic reports being paid for, leased in full to Nscale.
- No curtailment. The rate is The 12CP calculator's ERCOT average. Utilities range about $40 to $76, not TNMP's own.
Sources
- Ionic Digital second-quarter 2026 results (GlobeNewswire, via Finviz), Aug 19, 2026: cash payment began in August 2026 for 234 MW of operating capacity at the Ward County campus.
- Ionic Digital Base Load provisional classification (GlobeNewswire, via MarketScreener), Sep 10, 2026: ERCOT provisionally classified the remaining 466 MW request, which would bring the campus to 700 MW; TNMP is the transmission service provider.
- Ionic Digital lease of the Cedarvale facility to Nscale (Business Wire), Oct 14, 2025: Nscale leases the full 234 MW of the Barstow facility.
Figures as published on October 29, 2026. PUCT Project 58000 proposal for publication, adopted July 9, 2026; 16 TAC 25.192(b) as proposed.
What this is not
- Not a bill. Announced capacity is not a contract figure, and published operating MW is not metered peak-hour load.
- Whether the proposed minimum reaches loads already connected is not settled. If it does not, the added figure is zero for the connected part.
- Curtailing at peaks lowers the charge billed on draw, but not the part the minimum sets.
Run your actual contracted and drawn MW, year by year, in the estimator. Corrections to the public figures: contact.