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.
Entries in wholesale markets (21)
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 New England's External Market Monitor (EMM) has released its Annual Assessment of Electricity Markets in New England, which is an evaluation of the efficiency and competitiveness of New England’s wholesale electricity markets during 2015. The report, published in June 2016, provides a summary of market outcomes and assesses the enhancements made over the past year to help improve market operation and competitiveness.
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.
Putting Markets to Work for New England is a one-sheet summary of the key principles that shaped the region’s wholesale electricity markets and explains the main functions of the various markets. The document highlights the resource transformation underway in New England, the competitiveness of the region’s markets, the role of the capacity market, and the interactions between wholesale markets and public policy requirements. The New England Power Grid 2015–2016 Profile is a one-sheet summary of key facts and figures on the region’s demand growth, resource mix, transmission development, and wholesale electricity prices. Download them today! Also check out the Key Grid and Market Stats webpages for background and supplementary information.
ISO New England prepares an Annual Work Plan (AWP) that outlines major priorities and activities for a 21-month period designed to improve existing ISO systems, practices, and services to New England. It’s published in the fall and updated in the spring. The AWP contains details on expected timelines and objectives for planning, operations, markets, and capital projects. The Wholesale Markets Project Plan (WMPP) provides a biannual update of the market-related activities described in the AWP as well as updates on additional market-related activities pursued by the ISO. It’s published in summer and winter. Learn more and access the June edition of the WMPP at http://www.iso-ne.com/wmpp.