The presentation and recording of the March 2, Quarterly Settlements Issues Forum webinar are now available for download from the Quarterly Settlements Forum page. These quarterly interactive, web-based meetings cover upcoming changes affecting ISO New England settlements and billing and are open to interested market participants. Email the training team with questions at MkTraining@iso-ne.com.
Entries in settlements (6)
Aligning the financial settlement interval with the real-time pricing interval will bolster incentives for resources to respond to ISO dispatch instructions
On June 2, ISO New England, joined by the New England Power Pool (NEPOOL), filed a proposal with the Federal Energy Regulatory Commission (FERC) to change the interval at which the ISO settles the real-time energy and reserves markets from every hour to every five minutes. FERC accepted the proposal on July 26; the ISO will implement the new settlement interval in March 2017.
ISO-NE implements two more phases of the Divisional Accounting Project; See the new Customer Readiness webpage for complete project details
One new phase added; implementation date TBD
ISO New England launched the multi-year Divisional Accounting project to address requests from market participants to segregate settlement reporting into subaccounts for individual business units, divisions, or generating facilities. Participants can designate assets and resources directly to a subaccount in the Customer and Asset Management System (CAMS); other activity-based transactions are assigned in their respective applications, such as eMarket, the Forward Capacity Tracking System (FCTS), and the Internal Transactions interface. Financial assurance determination and billing/invoice will continue to be at the customer level (i.e., the aggregate of the subaccounts).
As this project touches multiple user interfaces and reporting systems, implementation has been performed over several phases beginning in 2014. Below is a summary of the implementation phases. For a comprehensive list of training materials, user guides, and other reference materials for market participants who elect to enable and use divisional accounting reporting, please see the Divisional Accounting Project page under the new Customer Readiness section of the ISO website.
Rollout was final step toward FERC requirements to adjust compensation mechanisms and expand participation to new technologies
On March 31, ISO New England’s redesigned Regulation Market went into effect, along with related updates to the eMarket application for market participants and the ISO dispatch software. The changes were a culmination of regional efforts begun in 2008 to address nationwide Federal Energy Regulatory Commission (FERC) requirements.
ISO-NE offers resources to help market participants prepare
ISO New England will be implementing changes to the Regulation Market on March 31, 2015. The changes comply with Federal Energy Regulatory Commission (FERC) Order No. 755, Frequency Regulation Compensation in Organized Wholesale Power Markets, which requires a two-part payment methodology to select and compensate frequency regulation resources.
Major settlement-related market changes include the following: