ISO-NE market changes for subhourly settlements, real-time fast-start pricing and DARD pumps take effect
March 1, 2017 marked the completion of three key ISO New England projects aimed at improving pricing in the region’s wholesale electricity markets. Accurate and transparent pricing is integral to competition because it motivates and compensates market participants to make sound business decisions, including investments in resources needed to operate the power system reliably and efficiently.
The three market projects included:
- Changing the interval at which the ISO settles the real-time energy and reserves markets from every hour to every five minutes
- Incentivizing quick responses to dispatch instructions by improving real-time energy market pricing logic
- Encouraging pump storage hydro-generating resources to move to economic bidding and away from self-scheduling options.