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The proposal will continue the region’s clean energy transition, while protecting power system reliability.
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High natural gas prices continued to drive year-over-year increases in wholesale power prices.
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The auction secured capacity commitments of 32,810 megawatts to meet the region’s projected demand for electricity in 2025-2026.
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Spearheaded by the Woods Hole Oceanographic Institution, the multi-year effort includes over a dozen industry leaders in offshore wind research and production.
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ISO New England is collaborating with the Electric Power Research Institute (EPRI) to perform a probabilistic energy security study.
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Preliminary clearing prices ranged from $2.639 per kilowatt-month to $2.531 kW-month across different pricing zones.
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The process will allow for regular state-requested transmission planning analyses of the infrastructure needed for state energy policies.
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The ISO plans to release the auction results during the week of March 7.
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The improvements build upon lessons learned from ISO New England’s first Order 1000 competitive transmission RFP.
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Colder weather, higher demand, and high natural gas prices pushed wholesale electricity prices to their highest levels since February 2014.
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