Entries in wholesale markets (21)

Friday
Apr212017

ISO-NE proposes solution to harmonize competitive markets and subsidized resources

ISO New England has posted a four-page outline of its proposal to address concerns about subsidized new resources’ participation in the Forward Capacity Market and their potential effects, including depressed prices or excess capacity. The ISO’s concept proposes to closely coordinate the entry of (subsidized) new resources with the exit of (unsubsidized) existing capacity resources. A more detailed paper explaining the proposal will be released in the near future.

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Monday
Jan302017

Media briefing focuses on state of region’s electric grid 

ISO New England President and CEO Gordon van Welie provided reporters with an update on the state of New England’s electric system during a media briefing on Monday, January 30, 2017, held as part of the ISO on Background series. The briefing included information on New England’s power grid, the continuing transformation of the fuel resource mix and the fundamental challenges facing the region moving forward. New England is in the midst of a transition away from coal- and oil-fired power plants and towards a “hybrid” power system of larger generators, including renewable resources, and small behind-the-meter resources at customer sites. However, demand for natural gas continues to rise, challenging the region’s fuel security—the assurance that sufficient fuel will be available for power plants to generate the electricity when needed. Watch the briefing, or view van Welie’s presentation and remarks from the event.

ISO on Background is a series of periodic briefings designed to provide members of the media with an informal opportunity to learn more about the trends affecting New England’s electricity industry and ISO New England’s role in the region’s power system.

Wednesday
Jan112017

US Department of Energy releases Quadrennial Energy Review 1.2

The US Department of Energy (DOE) has released the second installment of its Quadrennial Energy Review (QER 1.2), examining an array of issues and trends affecting the electric system in North America, from bulk power generation to end user, out to 2040. The report, titled “Transforming the Nation’s Electricity System,” finds that the electric system is a critical and essential national asset and that it is a strategic imperative to protect and enhance the value of the system through modernization and transformation. The QER 1.2 conducts its analysis within the context of three overarching national goals: enhancing economic competitiveness, promoting environmental responsibility, and providing for the nation’s security. 

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Wednesday
Aug312016

ISO New England CEO joins thousands in power industry, speaks at 2016 CIGRE Session in Paris

ISO New England CEO Gordon van Welie was invited to speak at the 2016 CIGRE Session held in Paris, France on August 21 – 26, 2016. CIGRE, the International Council on Large Electric Systems, holds week-long sessions every two years attracting thousands of senior executives, engineers, and experts from the worldwide power industry to discuss emerging issues and opportunities for high-voltage electric systems.

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Monday
Aug012016

FERC approves change to five-minute settlement of real-time markets

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.

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Tuesday
Jun282016

ISO-NE submits comments to US Department of Energy on 2016 Quadrennial Energy Review

ISO highlights importance of efficient wholesale markets; notes that additional energy infrastructure is needed to maintain reliability and meet regional environmental goals

On June 28, Gordon van Welie, President & CEO of ISO New England, submitted comments to the US Department of Energy (DOE) as it prepares to write the second iteration (“Version 1.2”) of its Quadrennial Energy Review (QER). For the 2016 QER, the DOE is focusing on the entirety of the electric system in the United States and North America from bulk power generation to end user.

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