Monday
Jun292015

Now online: Recording of Q2 2015 Settlements Issues Forum

The recording of the June 18, 2015, Quarterly Settlements Issues Forum webinar is now available on the ISO website at Home > Markets and Operations > Settlements > Quarterly Settlements Forum Materials. These quarterly interactive, web-based meetings cover upcoming changes affecting ISO New England settlements and billing and are open to interested market participants. If you have any questions, please email the training team at MkTraining@iso-ne.com.

 

Monday
Jun292015

ISO-NE updates real-time fuel mix chart on iso-ne.com, ISO to Go, with enhanced market offer data

Better represents fuels being used by dual-fuel power plants

With the launch of the Energy Market Offer Flexibility Project during December 2014, dual-fuel generators are now able to submit supply offers that specify the percentage of each fuel they plan to use during the upcoming hour—called “blended offers.” The market changes are designed to give generators the flexibility to represent their cost for each fuel in their supply offers, helping to ensure that when they must switch fuels, their costs are accurately represented—an incentive for them to perform as needed.

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Thursday
Jun252015

Upcoming Coordinated Transaction Scheduling training and Joint Energy Scheduling System sandbox opportunities

New York ISO (NYISO) and ISO New England (ISO-NE) will be hosting several web-based training sessions on Coordinated Transaction Scheduling (CTS) and the NYISO Joint Energy Scheduling System (JESS). CTS will enable ISO-NE and NYISO to make more efficient use of the transmission lines that connect the two regions. JESS is the NYISO software application participants will use to enter external transactions at the Roseton interface when CTS is implemented. The ISOs expect to implement CTS in December 2015.

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Thursday
Jun252015

Consumer Liaison Group focuses on new energy policymaking and legislation in the New England states at Q2 meeting

Keynote speaker Matthew Beaton, Secretary of Energy and Environmental Affairs for the Commonwealth of Massachusetts (pictured left), kicked off the June 18, 2015, the Consumer Liaison Group (CLG) meeting in Westborough, Mass., laying out Governor Baker’s vision for energy policy in the state. He explained that the Governor seeks to employ a balanced approach to energy policy through three guiding principles: (1) reduce and stabilize the rising cost of electricity, (2) encourage more renewable energy resources to enter the fuel mix, and (3) reduce greenhouse gas emissions.

Representatives from the five remaining New England states participated on a panel to discuss new energy policymaking and legislation in their states. 

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Thursday
Jun182015

Wholesale electricity prices and demand in New England

May’s average price for wholesale power dropped to fourth-lowest monthly price in 12 years

The warmest May since 2003 pushed up New England consumers’ demand for power as compared to energy usage during the previous May, but the price impact of higher demand was tempered by the lowest average natural gas price of any month since March 2003, when current wholesale markets were launched in New England. As a result, the average wholesale power price during May fell to the fourth-lowest level since March 2003.

May highlights:

  • Fourth-lowest average wholesale electric energy price since March 2003
    • March 2012: $25.39 per megawatt-hour (MWh)*
    • April 2012: $25.41/MWh
    • April 2015: $25.88/MWh
    • May 2015: $26.12/MWh
  • Lowest average monthly natural gas price since March 2003
    • May 2015: $1.85 per million Btu (MMBtu)**
    • April 2012: $2.39/MMBtu
    • May 2012: $2.63/MMBtu
    • August 2014: $2.64/MMBtu
  • Highest May average temperature since 2003
    • May 2015: 63.1° Fahrenheit
    • May 2010: 61.5°  

May’s average electric energy price of $26.12/MWh was 26.3% lower than the May 2014 average price of $35.46/MWh and 0.9% higher than April’s average price of $25.88/MWh.

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Wednesday
Jun172015

New LMP Calculator helps improve real-time price formation

On May 27, ISO New England replaced its Locational Marginal Price (LMP) Calculator, the automated software that determines real-time energy and reserve prices. The revised LMP Calculator helps create a system in which the preliminary prices produced by the LMP Calculator, the price signals sent by the ISO’s dispatch software, and the final prices used in settling the markets are more closely aligned. The new software also eliminates the need for special pricing rules regarding the eligibility of resources to set price.

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