New England is expected to have the resources needed to meet consumer demand for electricity this summer, though tight supply margins could develop if forecasted peak system conditions occur. If this happens, ISO New England will take steps to manage New England’s electricity supply and demand in real time and maintain power system reliability. Under normal weather conditions of 90 degrees Fahrenheit (F), electricity resources should be sufficient to meet consumer demand this summer, with a forecasted peak of 26,482 MW megawatts (MW). Extreme weather of 94°F could push up electricity demand to 28,865 MW. View the press release.
Entries in capacity (18)
Finalized capacity auction results confirm FCA #11 procured sufficient resources, at a lower price, for 2020–2021
Finalized results from the 11th Forward Capacity Auction (FCA #11) confirm that the February 6 auction concluded at a lower price than the previous three annual auctions and with sufficient resources to meet electricity demand in 2020–2021. ISO New England filed the results with the Federal Energy Regulatory Commission (FERC) on February 28. The FERC filing includes a list of resources that have an obligation to be available in that capacity commitment period. Read the press release.
ISO-NE forward capacity auction secures sufficient power system resources, at a lower price, for grid reliability in 2020-2021
The 2017 auction clearing price lowest since 2013
New England’s annual Forward Capacity Market auction concluded Monday, February 6, with sufficient resources to meet demand in 2020-2021. Preliminary results indicate the clearing price for all three capacity zones, $5.30 per kilowatt-month, is the lowest since 2013. The auction is run by ISO New England to procure the resources that will be needed to meet projected demand three years in the future.
The 11th Forward Capacity Auction (FCA #11) attracted robust competition among resources to provide reliability services in New England. This year’s auction concluded with commitments from 35,835 megawatts (MW) to be available in 2020-2021, with 1,760 MW of surplus capacity. The auction rules allow the region to acquire more or less than the capacity target, providing flexibility to acquire additional capacity and enhanced reliability at a cost-effective price. Read the February 9 press release for more details.
For the fourth year in a row, a winter reliability program is in effect to help augment fuel adequacy in New England. In September 2015, the Federal Energy Regulatory Commission approved a program for the winters of 2015/2016 to 2017/2018 to address seasonal reliability challenges created by constraints on New England’s interstate natural gas pipeline system. The previous programs proved to be cost-effective, short-term solutions to help keep the lights on in New England during very cold winter days.
The Federal Energy Regulatory Commission (FERC) has accepted ISO New England’s proposed Installed Capacity Requirement (ICR) values to be used in the 11th Forward Capacity Market auction (FCA #11), which commences February 6, 2017. The ICR used in the development of the system-wide and zonal demand curves for FCA #11 is 34,075 megawatts (MW).
This year’s ICR calculations continue to account for the demand-reducing effects of behind-the-meter solar photovoltaic (PV) resources. Using the ISO’s long-term forecast of growth in PV resources, the amount of capacity required in 2020/2021 was reduced by 720 MW.
Natural gas pipeline constraints remain a concern, Winter Reliability Program implemented
Electricity supplies should be sufficient to meet New England’s consumer demand for electricity this winter, but possible natural gas pipeline constraints could limit electricity production from natural gas power plants. A Winter Reliability Program has been implemented to incentivize gas and oil-fired power plants to procure sufficient fuel before winter begins. View the press release.