Finalized auction results confirm sufficient capacity resources for New England during 2025–2026
On Monday, March 21, ISO New England filed the results of the sixteenth Forward Capacity Auction (FCA 16) with the Federal Energy Regulatory Commission (FERC). Held on February 7, the auction secured capacity commitments of 32,810 megawatts (MW) to be available in 2025-2026.
In addition to information about capacity clearing prices for the auction’s four capacity zones, which ranged from $2.639 per kilowatt-month (kW-month) to $2.531 kW-month, the filing includes a list of the resources that secured obligations to help ensure reliable power for New England in three years.
The annual auction of the Forward Capacity Market is held three years before each capacity commitment period, to provide time for new resources to be developed. Capacity resources can include traditional power plants, renewable generation, imports, and demand-side resources such as load management and energy-efficiency measures. Resources clearing in the auction will receive a monthly payment during the delivery year in exchange for their commitment to provide power or curtail demand when called on by the ISO. The capacity market is separate from the energy market, where resources compete on a daily basis to provide power, and are paid for the electricity they produce.