Monday
Jun182018

Download the latest edition of ISO-NE’s Wholesale Markets Project Plan

The June release of 2018 Wholesale Markets Project Plan (WMPP) is now available on the ISO’s website. The WMPP describes the current status of market initiatives (including the progress of market projects cited in the Annual Work Plan) and is updated biannually in the summer and winter. Stakeholders can stay up-to-date on market projects by following them from introduction to implementation within the WMPP webpage, which consolidates access to the Annual Work Plan, WMPP, Markets Committee Two-Month Look-Ahead Forecast, Markets Committee meeting agendas and materials, Key Projects and a listing of Closed Market Design Projects. Quick links to FERC Filings and Orders and our Customer Readiness page are also available to further inform and support NEPOOL’s Principal Committees.

Friday
Jun152018

Monthly wholesale electricity prices and demand in New England, May 2018

Wholesale power prices fell in May to the 8th lowest monthly average

Mild weather and low demand for power combined with low natural gas prices to bring May’s wholesale electricity price to the eighth-lowest level in 15 years. New England’s wholesale electricity markets were launched in their current form in March 2003. Similarly, the price of natural gas was the 12th-lowest monthly average over the same period.
The average wholesale power price for the month of May 2018 dropped in both the day-ahead and real-time energy markets when compared to the previous year. The day-ahead energy price was down 12.0% to $24.04 per megawatt-hour (MWh)* and the real-time energy price fell 18.8% to $23.89/MWh.

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Monday
Jun112018

“Pay-for-performance” capacity market incentives implemented as of June 1, 2018

“Pay-for-performance” (PFP)—a cornerstone of ISO New England’s ongoing, multi-faceted effort to address trends that are challenging power system reliability—became effective on June 1, 2018. PFP is part of New England’s Forward Capacity Market (FCM) design, which acquires obligations from resources needed to meet demand three years into the future. The new PFP rules provide enhanced incentives, in a carrot-and-stick approach, for resource owners to ensure their resources are ready and able to meet their obligations to provide energy and reserves or reduce demand during times of stress on the regional power system. Now, resources with a capacity obligation can be penalized $2,000 per megawatt-hour (MWh) for failing to meet their obligation during energy shortfalls, while resources that over-perform relative to their obligation (including resources with no obligation) can receive $2,000/MWh of additional revenue. This performance payment rate is scheduled to increase to $5,455/MWh over the next six years.

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Wednesday
Jun062018

Price-responsive demand explained: Q&A with Henry Yoshimura, ISO Director of Demand Resource Strategy

6/12/18 update: Expanded information on pay-for-performance's impact on demand resources.

On June 1, 2018, ISO New England launched a new price-responsive demand (PRD) structure that completes the full integration of active demand resources (also known as demand response) into the regional wholesale electricity marketplace. Building on demand resources’ long-standing ability to participate in the capacity market, PRD makes ISO New England the first US grid operator to deploy its active demand resources as part of the energy dispatch and reserve-designation process along with generating resources. Henry Yoshimura, the ISO’s Director of Demand Resource Strategy, explains PRD below, as well as the changes and benefits it brings.

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Wednesday
May302018

Now online: Presentation and recording of PRD–Real-Time Operational Expectations webinar

The presentation and recording of the May 22, 2018, PRD – Real-Time Operational Expectations webinar are now available on the ISO New England website. This webinar focuses on real-time operational expectations for demand response resources (DRRs) and demand designated entity (DDE) staff under price-responsive demand (PRD) effective on June 1, 2018. Topics include expectations for (1) response to normal and emergency dispatch instructions, (2) DRR real-time re-submittals, and (3) communications with ISO New England system operators. Email the training team with questions at MkTraining@iso-ne.com.

Friday
May252018

Beating the heat: how ISO-NE prepares for the dog days of summer

Once the region rounds the bend on winter, ISO New England begins preparing to operate the region’s power grid during the hot, humid summer months. The days of highest electricity use occur during the summer in New England when warmer weather leads to increased use of energy-intensive air conditioning, creating complex challenges for the grid operator. With a toolbox of procedures, processes, and expertise in place to ensure reliability of the bulk power grid, the ISO is capable of dealing with the wide variety of situations that can arise when demand for power is peaking.

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