Tuesday
Nov252014

Market participants: take note of system outages in effect December 2-3 for Energy Market Offer Flexibility launch

On Tuesday, December 2, 2014, ISO New England will begin deploying the system changes needed to launch the Energy Market Offer Flexibility (EMOF) project. Various systems will be unavailable from 2:00 p.m. on December 2 to as late as 3:00 a.m. on December 3.

Click to read more ...

Tuesday
Nov252014

Monthly wholesale electricity prices and demand in New England

October wholesale power prices fell on low natural gas prices, slightly lower demand

Natural gas price volatility was highlighted by the drop in price from January to October, when the average monthly price fell to the fourth-lowest level in the last 11 years; by comparison, during January, the average prices of both natural gas and wholesale electricity were pushed up to their highest levels in 11 years by the combination of heavy demand for natural gas and pipeline constraints in New England. The average wholesale power price for October continued to track natural gas price trends, dropping to the sixth-lowest monthly average in 11 years.

Year-over-year, the average real-time price of wholesale power, at $30.64 per megawatt-hour (MWh)*  during October, fell 14.7% from the October 2013 price of $35.92/MWh. The price was also 15% lower than the average price of $36.04/MWh recording during September this year.

Click to read more ...

Thursday
Nov202014

2014/2015 winter outlook: sufficient power supplies expected, but natural gas pipeline constraints a concern

Winter Reliability Program in place to help improve grid reliability

The New England region should have sufficient resources in place this winter to meet consumer demand for electricity; however, insufficient pipeline capacity to meet power generators’ demand for natural gas continues to be a particular concern during the winter months. The retirement of several non-natural-gas-fired power plants since last winter also is a concern. To address potential fuel-availability issues and to help protect system reliability during the cold winter weeks, ISO New England has for a second year developed a Winter Reliability Program.

Click to read more ...

Friday
Nov142014

Implementation of hourly energy market offers to bring changes to NCPC determination and settlement

ISO-NE offers resources to help market participants prepare for December 3

The Energy Market Offer Flexibility Project is a major revision to the ISO’s energy market systems that will allow resource owners to submit energy supply offers that vary by hour in the day-ahead market, change energy supply offers in real time, and submit negative offers as low as -$150/megawatt-hour.

Click to read more ...

Friday
Nov142014

ISO on the Road: VP Anne George presents on natural gas dependency, prices, and winter reliability issues

On November 12, 2014, Anne George, Vice President of External Affairs and Corporate Communications, delivered a presentation on winter operations and impacts on wholesale electricity prices at the Connecticut Power and Energy Society (CPES) dinner meeting in Cromwell, Connecticut. She was joined by Michael Corretto, Vice President of Regulatory Affairs for UIL Holdings Corporation, and Taff Schamler, Chief Operating Officer for North American Power. George discussed the region’s dependence on natural gas for power generation and the challenges ISO New England faced last winter during colder-than-normal weather conditions. Because of natural gas pipeline constraints, New England experienced sustained high natural gas prices and, in turn, sustained high wholesale electricity prices. She explained that oil-fired generators were vitally important to reliability last winter, particularly given the difficulties securing mid-winter replenishments of oil inventories. George also provided an update on the 2014-2015 Winter Reliability Program and other market enhancements to be implemented in time for this winter. George’s presentation set the stage for the other two panelists, who discussed last winter’s impacts on electric distribution companies, competitive suppliers and, ultimately, retail electric rates. Read the related article, How wholesale electricity costs factor into your retail bill.

Friday
Nov142014

Third-quarter markets report reviews market outcomes during July, August, and September 2014 

The Quarterly Markets Report prepared by the Internal Market Monitor concludes that market prices reflected the cost of providing energy and that New England’s wholesale energy market outcomes were competitive during the months of July, August, and September. The quarterly report provides information on market outcomes, system conditions, and market competitiveness.

Click to read more ...