As the region gears up for a season of fun in the sun, ISO New England prepares for conditions unique to the hot, humid summer months. Peak demand brought on by warmer weather and an increased reliance on energy-intensive technologies, such as air conditioning, can create complex challenges for the grid operator.
The presentation and recording of the May 24, 2016, webinar, New Capacity Qualification for Demand Resources are now online (scroll down and click on the link of choice). This webinar reviews the requirements and elections associated with the submittal of the New Capacity Qualification Package for generating and import capacity resources seeking participation in the Forward Capacity Auction for the 2020-2021 Capacity Commitment Period (FCA #11), including import capacity resources with Elective Transmission Upgrades (ETUs). Questions? Email the training team at MkTraining@iso-ne.com.
The 2015 Annual Markets Report, issued by the Internal Market Monitor at ISO New England, concluded that New England’s wholesale power markets were competitive in 2015. The report found that average prices for both natural gas and wholesale electricity were the lowest since 2012. The average wholesale price for electric energy was $41 per megawatt-hour, and the total value of the region’s energy market was $5.9 billion.
The New England Electric/Gas Operations Committee (EGOC) last week marked a special milestone: its 50th meeting since the group was created 12 years ago by ISO New England and the Northeast Gas Association. The committee meets quarterly to review post-season operations and forecasts for the upcoming winter and summer peak seasons.
Winter 2016 quarterly markets report reviews wholesale market outcomes during December 2015, and January and February 2016
The Winter 2016 Quarterly Markets Report prepared by the ISO's Internal Market Monitor concludes that during the winter season—December 2015, and January and February of 2016—market prices reflected the cost of providing energy and that New England’s wholesale energy market outcomes were competitive. The quarterly report provides information on market outcomes, system conditions, and market competitiveness.
The report notes that the total wholesale cost of electricity (including energy, capacity, and ancillary services) during the three-month winter period was $1.34 billion, down 57% compared to the market value during the 2014/2015 winter. The average real-time wholesale energy price was $27.58 per megawatt-hour, a decline of 64% compared to the previous winter. Wholesale market costs were driven down by lower natural gas prices and lower electricity demand because of milder winter weather. Natural gas prices averaged $3.35 per million British thermal units—a decrease of 68%. Average hourly demand was 14,304 megawatts (MW) in winter 2016, or 8% lower than the 15,606 MW of average hourly demand the previous winter.
At ISO New England, we understand that our industry is technical, fast paced, and loaded with data. It can be challenging to keep up with all of the information we produce daily about the region’s power grid and wholesale electricity markets. That’s why we created My Subscriptions, an online service that helps you stay on top of the latest ISO developments. My Subscriptions is a convenient way to receive notification that new information about ISO committee meetings, documents, key projects and individual events has been added to our website, www.iso-ne.com. Just select items of interest, and you will be notified in an email to your PC or handheld device whenever they’re published.