Entries in wholesale markets (26)


Download the latest edition of ISO-NE’s Wholesale Markets Project Plan

The summer release of the 2019 Wholesale Markets Project Plan (WMPP) is now available on the ISO’s website. The WMPP describes the current status of market initiatives and is published biannually in summer and winter. The report allows readers to follow the progress of market projects, including each project’s: estimated start of the stakeholder process, design status, and estimated earliest effective date. Stakeholders can stay up-to-date on market projects by following them from introduction to implementation within the WMPP webpage, which consolidates access to the Annual Work Plan, WMPP, Markets Committee Two-Month Look-Ahead Forecast, Markets Committee meeting agendas and materials, Key Projects and a listing of Closed Market Design Projects. Quick links to FERC Filings and Orders and our Customer Readiness page are also available to further inform and support NEPOOL’s Principal Committees. ISO New England undertakes many projects and initiatives for the continued development of the region’s wholesale electricity markets.


Now online: WEM 201 training materials

Training materials from Intermediate Wholesale Electricity Markets (WEM 201) conducted June 11-13, 2019, are now posted to the ISO New England website. This three-day course provides an intermediate-level treatment of energy market concepts, including unit commitment, locational marginal pricing (LMP), energy and reserve co-optimization, market interactions, settlement mechanics, and Financial Transmission Rights (FTRs). Email the training team with questions at MkTraining@iso-ne.com.


ISO-NE’s wholesale electricity and capacity markets were competitive in 2018

The 2018 Annual Markets Report, issued by the Internal Market Monitor at ISO New England, concluded that New England’s wholesale power markets were competitive in 2018. The report notes that the total cost of wholesale electricity markets was $12.1 billion in 2018, which represents an increase of about 32% over 2017. Of the total, energy costs rose 34% to $6 billion. The energy increase was driven by higher natural gas prices, particularly during winter, and higher power demand during a hot and humid summer. Capacity costs rose by $1.4 billion to $3.6 billion, reflecting higher clearing prices in the eighth and ninth Forward Capacity Auctions after a spate of generator retirements. Capacity costs will begin to decline after June 2019, reflecting the entry of new resources and a higher capacity surplus. Regional network load costs were $2.3 billion to pay for the use of transmission facilities and other services. The costs for reliability services such as operating reserve, regulation and net commitment period compensation, totaled about $200 million in 2018.


Now online: Training materials for WEM 101

Training materials from Introduction to Wholesale Electricity Markets (WEM 101) conducted on April 29-May 3, 2019, are now posted to the ISO New England website. This is a comprehensive five-day course about the New England wholesale electricity markets including an introduction to the Forward Capacity Market. It is intended for individuals who are new to the New England wholesale electricity markets or who need a refresher.


Download spring update of ISO-NE’s Annual Work Plan

ISO New England’s spring update to its Annual Work Plan is now online. The work plan, published each September, outlines major priorities and activities for the year that are designed to improve upon existing ISO systems, practices, and services to New England. Detailed within are expected timelines and objectives related to planning/operations, markets, and capital projects. The ISO seeks stakeholder input on its work plan by sharing and discussing it with the Participants Committee. Ultimately, the work plan helps inform the ISO’s annual budget. For updates on markets projects, see the Wholesale Markets Project Plan page.


Annual media briefing focuses on state of region's electric grid in 2019

ISO New England President and CEO Gordon van Welie updated reporters on the state of the region’s power system during a media briefing on February 20, 2019. New England’s power system is operating from a strong foundation, but vulnerabilities still exist. ISO New England is facing increasing complexities in operating the grid with a shifting resource mix, and in maintaining markets that are truly competitive while accommodating public policy goals. The briefing explored these issues, while providing more information on how New England’s power system is faring, what the ISO sees on the horizon, and preparations for the future grid. Also included is an appendix with facts and figures about the power system, including 2018 data.

Watch the briefing, or view van Welie’s presentation and remarks from the event.