On February 6, 2014, ISO New England hosted a web conference to inform market participants—particularly those supporting back office and settlement functions—about divisional accounting concepts and the phases of the divisional accounting project, including the specific changes to be implemented in the first phase of the project to allow market participants to create subaccounts. A recording of the Divisional Accounting—Phase 1 conference is now online. If you have any questions, please email the training team at MkTraining@iso-ne.com.
Cold weather, strong consumer demand and natural gas pipeline constraints created record-high prices for natural gas and wholesale power in January
January’s frigid temperatures and soaring demand for natural gas, coupled with constraints on natural gas pipelines, resulted in the highest average natural gas prices and wholesale power costs in New England in more than 10 years. In fact, natural gas prices were higher than the price of oil for the month, resulting in an increase in the use of oil to generate electricity.
Eighth Forward Capacity Market auction concludes with slight shortfall in resources needed for 2017-2018 in New England
Finalized results for the eighth Forward Capacity Market auction were filed at the Federal Energy Regulatory Commission on Friday, February 28, by ISO New England. The results show that the auction, held on February 3, concluded with a small deficit in the power system resources needed to meet consumer demand in New England in 2017–2018, resulting in higher prices for capacity in that year.
The filing outlines the closing prices for differing categories of resources and a list of the resources that cleared the auction: the generators with obligations to provide power when dispatched in 2017-2018, and the demand-side resources with an obligation to reduce consumption.
ISO New England has updated its electric system profiles of each state in New England and the region. The profiles contain important facts—including rate of demand growth, resource and fuel mix, demand resources, renewable portfolio standards, transmission development, average wholesale electricity prices, and Forward Capacity Auction results—organized in one place.
On Friday, February 28, 2014, Robert Ethier, Vice President of Markets Development, delivered a presentation at the New England Electricity Restructuring Roundtable on enhancing the Forward Capacity Market (FCM) to improve resource performance and investment in New England—challenges identified through the Strategic Planning Initiative.
Impact of energy-efficiency measures on load is detailed in
Energy-Efficiency Forecast for 2017-2023
The long-term forecast for electricity use from 2014 to 2023 is being finalized, but preliminary projections show that both energy usage and peak demand will grow slowly over the 10-year period.