ISO-NE, NEPOOL file to delay 2025 capacity auction by one year
ISO New England and the New England Power Pool (NEPOOL) are seeking approval from the Federal Energy Regulatory Commission (FERC) to delay by one year Forward Capacity Auction 19 (FCA 19), currently scheduled for February 2025. The auction will secure obligations from resources to be available during the 2028/2029 capacity year, with the qualification process beginning in early 2024.
Forward Capacity Auction 18, scheduled for February 2024 to cover the 2027/2028 capacity year, would not be affected.
Delaying FCA 19 by one year would allow the ISO and stakeholders more time to complete the Resource Capacity Accreditation (RCA) project. FCA 19 was scheduled to be the first auction to include the updated capacity accreditation changes developed through the RCA project, but the discovery of a modeling issue has slowed the project’s completion. ISO New England now expects to file its RCA proposal with FERC in August 2024.
Further, a delay will afford the region more time for ongoing discussions regarding revising the forward, annual capacity market to a prompt and/or seasonal market. ISO New England has engaged Analysis Group to provide a report looking at the tradeoffs associated with these options ahead of making a recommendation to the New England states and stakeholders early next year.
ISO New England and NEPOOL have requested FERC approve the one-year delay for FCA 19 by January 2, 2024.