Entries in capacity (20)

Thursday
Feb082018

ISO-NE forward capacity auction closes with adequate power system resources for 2021-2022

The ISO will retain about 1,300 megawatts to ensure local reliability

New England’s annual Forward Capacity Market auction for power system resources concluded Tuesday, February 6 with sufficient resources to meet peak demand in 2021-2022, and preliminary results indicate the clearing price was the lowest in five years due to a surplus of capacity in the region. The auction is run by ISO New England to procure the resources that will be needed to meet consumer demand for electricity in three years.

The 12th Forward Capacity Auction closed at a preliminary clearing price of $4.63 per kilowatt-month (kW-month) across New England, compared to $5.30/kW-month in last year’s auction. The auction concluded with commitments from 34,828 MW to be available in 2021-2022, a number that includes 1,103 MW of surplus capacity system-wide and about 1,300 MW of resources that were retained for transmissions security after they sought to delist. 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 8 press release for more details.

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Wednesday
Jan242018

FERC accepts capacity requirements for 2021/2022

The Federal Energy Regulatory Commission (FERC) has accepted ISO New England’s proposed Installed Capacity Requirement (ICR) value of 33,725 megawatts (MW) to be used in the 12th Forward Capacity Market auction (FCA #12), which commences February 5, 2018. The ICR is the amount of capacity (generation, demand-side resources, and imports) the ISO has determined needs to be available in 2021/2022 to meet the region’s projected peak demand, plus required reserves. The ICR value is calculated using reliability requirements based on the probability of disconnecting load due to a resource deficiency (also referred to as Loss of Load Expectation or LOLE) no more than once every 10 years (1-in-10). 

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Thursday
Nov302017

2017/2018 winter outlook: sufficient electricity supplies expected

Natural gas pipeline constraints remain a concern; final 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. The ISO’s fifth and final Winter Reliability Program has been implemented to incentivize power plants to procure sufficient fuel before winter begins. The interim reliability program is ending after this winter due to new capacity market performance incentive rules that go into effect June 1, 2018. View the press release for more information and download our winter outlook fact sheet.

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Friday
Oct272017

Update on the 2017/2018 Winter Reliability Program

2/9/18 update: Preliminary January program usage posted. Please note that the number of program oil barrels used in the program differs from the actual amount of oil burned regionally because participation is capped for each participating generator. Additionally, not all generators participate in the program. Read “Power Systems Update: New England grid operations through recent bitter cold weather and preparation for winter storm” to learn how the winter reliability program has provided critical support again this winter.

For the fifth year in a row, a winter reliability program is in effect in New England to address seasonal reliability challenges created by constraints on New England’s interstate natural gas pipeline system. The program is a short-term, cost-effective effort to help ensure eligible generators have the fuel needed to operate reliably during very cold winter periods.

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Thursday
Aug172017

Requests to participate in 2017/2018 Winter Reliability Program due October 1

Market participants: Requests to participate in the Oil Program, LNG Program, or Demand Response Program are due to ISO New England Customer Service by October 1, 2017. 

Read FERC approves reliability program for winters 2015/2016, 2016/2017, and 2017/2018 to learn more about the Winter Reliability Program and why the ISO is implementing these programs for the coming three winters.

See the Winter Program Payment Rate page for details on payment rates.

Wednesday
Apr262017

Summer 2017 outlook: sufficient electricity supplies expected

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.