Entries in fcm (51)

Wednesday
Mar282018

Financial assurance for the Forward Capacity Market web-based training

Updated for Pay for Performance!

This web-based training provides details on financial assurance as well as the new pay-for-performance component of the Forward Capacity Market. The component, FCM delivery financial assurance, is effective on June 1, 2018, and is used to cover the potential loss from capacity supply obligations under the pay-for-performance market design. Approximate viewing time is 30 minutes. Please use Internet Explorer or Firefox for viewing this training. Consult the Customer Readiness Page for comprehensive information about the pay-for-performance project and its June 1, 2018, implementation. Email the training team with questions at MkTraining@iso-ne.com.

Monday
Mar192018

See the FCM Participation Guide for up-to-date guidance on the new substitution auction, price-responsive demand, and more

As the region’s Forward Capacity Market (FCM) continues to evolve in response to changes in public policies, regulatory requirements, and technology, market participants are encouraged to review ISO New England’s FCM Participation Guide. The online guide has recently been revised to reflect the latest FCM enhancements, including changes related to:

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Tuesday
Mar132018

New Pay-for-Performance training options

This seven-minute video provides an introduction to the new Pay-for-Performance (PFP) incentive program that goes into effect on June 1, 2018. 
 
This 20-minute web-based training provides an overview of PFP and explains what triggers the incentives and shows how performance payments are calculated. It also includes information on settlements reports that have changed or are new for pay for performance. (Note: This training includes the video above.) 

Email the training team with questions at MkTraining@iso-ne.com.
Monday
Mar122018

FERC issues order accepting CASPR revisions to Forward Capacity Market

The Federal Energy Regulatory Commission (FERC) issued an order on March 9, 2018, accepting ISO New England’s CASPR proposal in its entirety and rejecting all of the arguments raised in protests. The Commission notes that out-of-market state revenues can result in building more capacity than a region needs, overpayment by consumers for capacity, inefficiently low capacity market prices and the erosion of investor confidence. The Commission concludes that the CASPR proposal, along with the New England region’s minimum offer price rules (MOPR), appropriately addresses the issues associated with out-of-market state revenues while ensuring that the overall capacity market can continue to attract and maintain appropriate levels of new resource investment.

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Wednesday
Feb282018

Finalized capacity auction results confirm FCA #12 procured sufficient resources, at a lower price, for 2021–2022

Finalized results from the 12th Forward Capacity Auction (FCA #12) confirm that the auction, conducted on February 5 and 6, concluded with sufficient resources to meet electricity demand in 2021–2022, at the lowest price in five years. While the auction closed with enough resources to meet demand, the ISO rejected two bids from resources looking to withdraw from the capacity market for the one-year capacity commitment period. The ISO’s mandatory transmission reliability review showed that transmission lines in Greater Boston could be overloaded if the resources, Mystic 7 and Mystic 8, were not available during 2021-2022. 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.

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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