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Basis

Basis is the gap between the price at a plant's own node and the price at its trading hub. InfraMap reports node minus hub, so a negative basis means the plant's location is worth less than the hub.

Also called node-to-hub spread, locational basis

Formula

Basis = node price − hub price

Node price
The price where the plant delivers, in $/MWh
Hub price
The price at the comparison hub over the same hours

With real numbersAverage of the 286 plants, 2025: node $30.84 − hub $32.51 = −$1.67 per MWh

In the data

75%of large ERCOT wind and solar plants had a negative 2025 basis: their node averaged below their hub

214 of 286 plants averaged below their hub. Plant averages ran from −$12.01 to $23.55 per MWh.

Number of plants by 2025 average real-time basis, $/MWh
  • Below the hub
  • Above the hub
98012533534−$10−$5$0$5$10

ERCOT real-time settlement point prices, 2025. Wind and solar plants of 100 MW and up with a full year; basis is node minus hub over the same hours.On the map

Built from InfraMap's 2025 data with the same tools the analyst uses.

Common mistakes

  1. Assuming everyone uses the same sign. InfraMap uses node minus hub. Some traders quote hub minus node, which flips every sign.
  2. Pairing different hours. Basis only means something when the node and hub prices cover the same intervals.
  3. Treating basis as settled revenue. It measures price exposure, and a contract can shift who bears it.

How the InfraMap analyst defines it

This application reports node price minus benchmark price in USD/MWh. Positive means a node premium. Other conventions reverse the sign. Pair the same valid intervals.

Basis = node price - benchmark price

InfraMap convention, not a universal publisher definition.

Reviewed October 1, 2026 against the references below. The analyst and the MCP server answer with this definition.

Primary references

See it for any US plant

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