Entries in fuel security (12)

Friday
Nov022018

ISO-NE is implementing near-term changes in both operations and markets to help address the risk of winter energy shortages

Coming soon: New estimates of the region’s fuel inventories and the cost of preserving fuel for times when it’s needed most

ISO New England’s efforts to address the region’s growing fuel security risks are continuing with two new initiatives to be deployed before winter 2018/2019 begins. One will forecast the region’s available energy supplies for the next 21 days, and the other will provide a market mechanism that will help ensure that limited fuel supplies are used when they are most valuable for system reliability and cost-effectiveness.

Click to read more ...

Friday
Oct262018

ISO-NE CEO gets “revved” up over the hybrid grid at Renewable Energy Vermont (REV) conference in Burlington

The New England electric grid is evolving in two fundamental ways, according to ISO New England CEO Gordon van Welie. The grid is shifting from the use of fossil fuels to generate electricity to cleaner resources and from central power plants to distributed generation. This change is creating a massive and exciting engineering and market design challenge, van Welie said.

van Welie shared this observation, and many others, during a keynote address at the Renewable Energy Vermont (REV) conference in Burlington, Vermont, on October 18. During his address to approximately 500 people, van Welie discussed the journey that New England is on in terms of energy policy, and the role of the ISO in it.

Click to read more ...

Monday
Oct012018

ISO-NE speaks to veterans on regional fuel-security challenges; helping solve energy challenges can provide mission-driven service for vets

On September 27, Norm Sproehnle, ISO New England Manager of Outage Coordination and U.S. Navy veteran, discussed New England’s Fuel Security Challenge with approximately 25 people at the 2018 Veteran's Energy Seminar, held at Boston University. According to their website, “the Veteran's Energy Seminar is designed to inspire veterans to use their technical skills and knowledge to continue service to the country after they leave the military in a way that positively impacts our national security. The program is based on training by the U.S. Department of State which introduces Foreign Service Officers to the fundamentals of energy fuels, markets, and regional conflict.

Click to read more ...

Friday
Aug312018

ISO-NE files proposal to retain retiring resources for fuel security

ISO New England has filed a proposal with the Federal Energy Regulatory Commission (FERC) to retain resources seeking retirement on the basis of a fuel-security reliability need. The proposal was filed August 31 in response to a deadline imposed by FERC last month and concludes a months-long stakeholder process to develop interim tariff changes to address fuel-security concerns in the near term. Several amendments to the ISO proposal were considered by stakeholders through the NEPOOL Markets, Reliability, and Participants committees. Some stakeholder amendments were incorporated into the ISO’s final proposal. Following the August 31 filing, the ISO will begin stakeholder discussions to develop a market-based mechanism to address long-term fuel-security challenges facing the region. For background, read our Update on ISO-NE’s operational fuel security initiatives.

Tuesday
Jul312018

Update on ISO-NE’s operational fuel security initiatives

Market changes are fast-tracked to address serious challenges

Soon after releasing its Operational Fuel-Security Analysis (OFSA) in January 2018, the ISO began meeting with stakeholders to discuss the results and developing plans to address the region’s fuel security risks in the short- and long-term. However within a few months of issuing the analysis, Exelon Generation announced that it intended to retire its Mystic Station generating units effective May 31, 2022. These units and their fuel source, a neighboring liquefied natural gas (LNG) import terminal, were explicitly identified in the OFSA as critical to the region’s fuel security. Given the increased urgency of the region’s fuel-security challenges, the ISO accelerated efforts already underway to address these risks.

Click to read more ...

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.

Click to read more ...