Entries in fcm (61)

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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Tuesday
May082018

2018 forecast of capacity, energy, loads, and transmission is published by ISO-NE

Energy usage and peak demand will decline slightly over the next 10 years

On April 30, 2018, ISO New England published the 2018-2027 Forecast Report of Capacity, Energy, Loads, and Transmission (CELT). The report is a primary source for assumptions used in ISO system planning and reliability studies. It provides a snapshot of the New England power system, including:

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Thursday
Mar292018

Draft load forecast indicates energy usage and peak demand will decline slightly over the next 10 years

ISO New England develops an annual projection of how much electricity the region will use every year for the next 10 years, as well as how high demand will peak during each of those years. The 10-year forecast is a key system planning tool, helping ensure New England has an adequate supply of resources to meet future demand and a transmission system that can do the job of carrying power to residents and businesses.

The draft long-term forecast for 2018 to 2027 projects that energy usage and peak demand will decline slightly in New England over the 10-year period. The primary factors are continuing installation of energy-efficiency measures and behind-the-meter photovoltaic (BTM PV) arrays throughout the region.

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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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