NEPOOL Markets Committee
ISO-NE updated stakeholders on its methods for assessing the impacts of its proposed capacity market overhaul as it prepares to release the initial results of the long-awaited analysis.
With costs associated with ISO-NE’s new day-ahead ancillary services market far exceeding expectations, the RTO is working to fast-track changes to improve the efficiency of the market in time for next winter.
ISO-NE outlined its methodology for analyzing potential effects of its capacity auction reform project, detailing inputs for the near- and longer-term base cases and potential factors to be considered in sensitivity analyses.
ISO-NE’s new day-ahead ancillary services market added about $258 million in incremental costs between March and August, equal to 7.6% of total energy market costs.
ISO-NE continued work on the second phase of its Capacity Auction Reform project, discussing modeling of the region’s gas constraints, seasonal auction design and its approach to evaluating the impacts of the auction changes.
ISO-NE outlined its planned approach for accounting for resources’ gas supply limitations in its new capacity accreditation framework at a NEPOOL Markets Committee meeting.
NEPOOL technical committees voted in favor of ISO-NE’s proposal to adopt a prompt capacity auction and update the RTO’s resource retirement process.
NEPOOL members proposed several amendments to the first phase of ISO-NE’s capacity market overhaul prior to the scheduled Markets Committee vote on ISO-NE’s proposal in November.
ISO-NE kicked off NEPOOL discussions for the second phase of its capacity auction reform project, beginning long-awaited talks on accreditation and seasonal capacity auction changes.
ISO-NE presented the final design details and tariff changes for the first phase of its Capacity Auction Reforms project in preparation for a stakeholder vote in October.
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