Entries in fcm (61)

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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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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Monday
Jan082018

ISO-NE files proposal to harmonize competitive markets and state-sponsored resources 

ISO New England today filed proposed tariff changes with the Federal Energy Regulatory Commission (FERC) designed to help accommodate the entry of state-sponsored renewable resources into the Forward Capacity Market (FCM) over time, while protecting the competitive pricing mechanisms that enable the market to work as designed. The ISO’s proposal, Competitive Auctions with Sponsored Policy Resources (CASPR), was developed following the New England Power Pool’s (NEPOOL) Integrating Markets and Public Policy (IMAPP) process, a stakeholder forum aimed at identifying and discussing potential wholesale market design changes that would enable competitive markets to better accommodate state public policy objectives in New England.

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