ISO New England recently completed a 2016 Service Organization Controls (SOC) 1 Type 2 engagement that assessed the controls surrounding the market administration and settlements system for administering the wholesale electricity markets.
The report, issued on November 11, 2016, covered the period of October 1, 2015 through September 30, 2016. During that time, a team from KPMG LLP visited the ISO two times, reviewed 65 control objectives, and tested over 250 control activities. For the 12th year in a row, ISO New England received an “unqualified opinion” from the independent auditor.
For many around New England, the ritual is the same: Wake up early on Thanksgiving morning and start prepping dinner, firing up ovens for turkeys, stuffing and pies. The holiday brings a lot more activity than a typical fall Thursday morning and also changes the way ISO New England plans for the region’s energy use that day.
On most fall days, electric demand peaks in the early evening, as people around the region return home and begin household chores like laundry and cooking dinner. But on Thanksgiving, ISO New England’s system operators have seen consumer demand for electricity peak much earlier – often around noon – making it the only day of the year where electricity demand peaks this early.
October’s average price of electricity fell on continuing low natural gas prices and low demand
Lower demand, driven by milder weather, and lower natural gas prices pulled October’s average monthly power price down 30%, to $22.72 per megawatt-hour (MWh)*, compared to the October 2015 average price of $32.62/MWh. The wholesale power price during October was the sixth-lowest since the wholesale electricity markets in their current form were launched in 2003 in New England, and the natural gas price was the eighth-lowest during that time period. Total energy consumption in New England in October was the lowest of any October since 2000, and the fourth-lowest monthly consumption.
The year's final meeting of the New England Consumer Liaison Group (CLG) takes place December 1, from Noon—4:00 p.m. at the Seaport Hotel & World Trade Center in Boston. The group welcomes Cheryl LaFleur, Commissioner, Federal Energy Regulatory Commission, as keynote speaker. The panel discussion will focus on New England states’ clean energy initiatives and how mandated wind and hydro procurements impact customer bills and regional power markets. Panelists include Jim Bride, President, Energy Tariff Experts; Ron Gerwatowski, Advisor, Energy Policy and Utility Regulation; and Greg Cunningham, VP & Director, Clean Energy Climate Change, Conservation Law Foundation. Additional panelists to be announced. To register, visit the CLG webpage.
ISO New England’s Vice President of Information and Cyber Security Services has been named to a new advisory board of the Energy Sector Security Consortium, Inc. (EnergySec). Jamshid Afnan joins over 20 other senior energy-sector technology and security experts who will advise EnergySec leadership on key security issues affecting energy organizations and help set priorities for programs that enhance the cybersecurity resiliency of these organizations. EnergySec is a United States non-profit corporation formed to support energy sector organizations with the security of their critical technology infrastructures. Read their press release.