NYISO 2015/2016 ICAP Demand Curve Reset
|
|
- Amanda Daniels
- 6 years ago
- Views:
Transcription
1 NYISO 2015/2016 ICAP Demand Curve Reset Business Issues Committee March 17, 2016 BOSTON CHICAGO DALLAS DENVER LOS ANGELES MENLO PARK MONTREAL NEW YORK SAN FRANCISCO WASHINGTON
2 Today s Presentation Provide a summary of the recommended changes to the ICAP Demand Curve reset (DCR) process, including changes to: DCR Periodicity Annual updating of ICAP Demand Curve values Provide a review and summary of issues discussed at the ICAPWG, including: Other proposals and issues evaluated throughout the process Summary of quantitative backcasting analysis Appendix includes additional details and numeric examples presented at the February 19, 2016 and March 3, 2016 ICAPWG meetings for the recommended DCR process changes Page 1
3 Summary of Proposed DCR Changes DCR Period: 4 years (currently, 3 years) Net EAS revenues Forecast net Energy and Ancillary Services (EAS) revenues using three-year average of historical net revenues (with no econometric adjustments) Adjust historical revenues to reflect market conditions at the tariff-specified level of excess (i.e., minimum installed Capacity Requirement, plus MW rating of peaking unit) through GE MAPS based scaling factors ( level of excess adjustment) Annual updates Net EAS revenues: Update annually based on updated historical net EAS revenues (new LBMPs and costs), applying fixed level of excess adjustment factors Gross cost of new entry (CONE): Adjust all zones based on single composite escalation factor, using finalized data at the time of reset/update, sourced from publicly-available indices Calculation of Reference Point Prices: Include annual updates to the winter-tosummer ratio (WSR) to reflect changes in system conditions Page 2
4 Decision Criteria Economic Principles: Each recommendation should be grounded in economic theory and reflect the structure of, and incentives in, the NYISO markets Accuracy: Choices should be made with the goal of providing accurate results that capture market expectations regarding net CONE Transparency: The DCR calculations and periodic updates to net CONE should be clear and transparent to Market Participants; calculation and update methods should be understandable and allow Market Participants to develop market expectations Feasibility: The DCR design and implementation should be practical and feasible from regulatory, administrative, and Market Participant perspectives Historical Precedence and Performance: DCR design decisions should where possible and relevant be informed by quantitative analysis based on historical data, and draw from lessons learned in the NYISO, ISO-NE and PJM wholesale capacity markets Page 3
5 Analysis Group ICAPWG Participation Analysis Group (AG) has worked with the NYISO and the ICAPWG to develop, review, and refine its initial proposal regarding changes to the DCR process. October 19, 2015: Introduction, initial scoping of key issues November 18, 2015: Initial discussion of key drivers to extend DCR period Initial discussion of alternative net EAS revenue approaches December 16, 2015: Detailed discussion of interrelated threshold issues January 26, 2016: Preliminary recommendations Detailed evaluation of key recommendations Initial backcasting of net EAS revenues, with annual updates February 19, 2016: Revisions to preliminary recommendations Additional details on annual update process Numeric examples, net EAS revenue estimation March 3, rd 2016: Updates to recommendations Additional backcasting of reference point prices, with annual updates Page 4
6 Benefits of Proposed Approach Increase in Periodicity Increases market certainty/stability vs three year reset Does not meaningfully increase risk that peaking unit technology will change between DCRs, compared to three years Provides an appropriate balance of accuracy, transparency, and feasibility, particularly if paired with annual updating and a more transparent net EAS revenue estimation strategy Annual Updates Create a more predictable and continuous evolution of reference point prices between and within DCRs, and reduce risk of step changes in reference point prices with DCRs Allow reference point prices to evolve between resets to capture changing market conditions that affect the true cost of new entry Reduce the need for one-time forecast adjustments at the time of each reset Benefits supported through qualitative assessment and quantitative backcasting analysis (next slide). Page 5
7 Conclusions of Backcasting Analysis Analysis Group conducted a backcasting of annual updates and historical reference point prices. We concluded: Variability in reference point prices can be due to changes in either or both installed capital costs and net EAS revenues The net effect depends on the relative magnitude and importance of each component Between DCRs, annual updates have similar, or reduced variability, relative to the current approach Current approach tends to have greater variability between resets for each component (installed capital costs and net EAS revenues) individually Annual updates, by design, tend to have greater variability within each DCR period, with variability tracking actual changes in the cost of new entry This intra-reset variability reduces the potential for significant step changes with each reset Additional detail and results are included in the Appendix. Page 6
8 Reference Price ($/kw-month) Illustrative Backcast: Reference Prices Actual Reference Price 2007 LMS 2013 F-Class $25 $20 Actual Reference Price, with variability between resets and constant escalation within resets $15 $ F-Class Reference Price reflects: 2013 NERA demand curve model 2013 F-class installed capital cost; subsequent annual values based on updated annual escalation factors F-Class historical net EAS Revenues $ LMS Reference Price reflects: 2007 NERA demand curve model 2007 LMS installed capital cost; subsequent annual values based on updated annual escalation factors LMS historical net EAS Revenues The actual reference price technology at the time of each DCR LMS Tech LMS Tech F-Class Tech $ Page 7
9 Summary of Additional Considerations Throughout this process, Analysis Group also reviewed and considered: DCR Periodicity of 5 or 6 years Longer periods offer less frequent opportunity for Market Participant feedback and may potentially reduce accuracy over time Alternative net EAS revenue models, including econometric model or historic approach with futures adjustment A futures adjustment introduces potential for market manipulation, with concerns regarding zonal liquidity; also introduces potential overlap with other annual updates and adjustments Econometric approach requires forecasts of structural market changes and reduced transparency/predictability Annual updates to level of excess adjustment factors Fixed LOE adjustments factors are reasonable and provide for directionally and economically appropriate adjustment that seeks to reflect market conditions when at need Page 8
10 Today s Presentation Periodicity Initial ICAP Demand Curve Values Estimation of Gross CONE Estimation of Net EAS Revenues Determination of ICAP Demand Curve Parameters Annual Updates Updating of Gross CONE Updating of Net EAS Revenues Updating of ICAP Demand Curve Parameters Appendices Additional Backcasting Analysis Net EAS Revenues Numeric Examples Additional Exhibits Page 9
11 Recommendation: DCR Period Recommendation: switch from current three-year period between resets to a four-year period Five or six years: Deemed not prudent Forecast error increases with time Fewer opportunities to incorporate stakeholder feedback Higher risk that peaking unit technology and forecast elements deviate from actuals Three years: Status quo Accepted and understood by Market Participants Frequency of resets reduces market stability, particularly if/when peaking unit technology changes Four years: Recommended May increase market certainty/stability vs three year reset Does not meaningfully increase risk that peaking unit technology will change between DCRs, compared to three years Interaction with other recommendations: Move to longer DCR period increases the value of adopting a method that includes annual updates to gross CONE and net EAS revenues Annual updates must be sufficiently transparent to promote and ensure market stability Additional detail on annual updates are provided on the following slides and in greater detail starting on slide 16. Page 10
12 Demand Curve Calculations Over the DCR Period Capability Year 1 (2017/18) Capability Year 2 (2018/19) Capability Year 3 (2019/20) Capability Year 4 (2020/21) Capability Year 5 (2021/22) Assessment of peaking unit technology: Gross CONE Net EAS revenues ICAP Demand Curve Values for First Capability Year Timing: Data from 3- year period ending Aug. 31, 2016 Parameters in Nov Annual Updates Gross CONE inflation adjustment Net EAS revenues Winter Summer ratio ICAP Demand Curve Values for Second Capability Year Timing: Data from 3- year period ending Aug. 31, 2017 Parameters in Nov Annual Updates Gross CONE inflation adjustment Net EAS revenues Winter Summer ratio ICAP Demand Curve Values for Third Capability Year Timing: Data from 3- year period ending Aug. 31, 2018 Parameters in Nov Annual Updates Gross CONE inflation adjustment Net EAS revenues Winter Summer ratio ICAP Demand Curve Values for Fourth Capability Year Timing: Data from 3- year period ending Aug. 31, 2019 Parameters in Nov Assessment of peaking unit technology: Gross CONE Net EAS revenues ICAP Demand Curve Values for First Capability Year Timing: Data from 3- year period ending Aug. 31, 2020 Parameters in Nov Additional detail on annual updates are provided on the following slides. Page 11
13 Today s Presentation Periodicity Initial ICAP Demand Curve Values Estimation of Gross CONE Estimation of Net EAS Revenues Determination of ICAP Demand Curve Parameters Annual Updates Updating of Gross CONE Updating of Net EAS Revenues Updating of ICAP Demand Curve Parameters Appendices Additional Backcasting Analysis Net EAS Revenues Numeric Examples Additional Exhibits Page 12
14 Proposal : Net EAS Revenue Estimation Net EAS revenues earned by the peaking plant would be estimated as follows: Net EAS revenues estimated as the average net revenues earned by each peaking plant over a 3-year rolling historical period A level of excess adjustment will be made to historical prices based on scaling factors developed through a GE MAPS analysis, determined as part of the DCR Net EAS revenues for the 2017/18 Capability Year will be estimated using the 3- year period September 2013 to August 2016 Initial consultant draft report will reflect data from May 2013 to April 2016; data will be updated in October for the initial filing in November Rationale: Improve transparency and predictability of net EAS revenue calculations; Enable the periodic updating of net EAS revenue values to reduce forecast uncertainty; and Increase viability of longer (i.e., 4-year) DCR period Page 13
15 Proposal: Level of Excess Adjustment Retain adjustment of net EAS revenues to reflect tariffprescribed level of excess conditions Purpose: adjust historic prices (Energy and Operating Reserves) to approximate net EAS revenues at system conditions based on the minimum Installed Capacity Requirement plus the capacity of the peaking plant appropriate adjustments can improve the accuracy of results in approximating net CONE Level of Excess ( LOE ) adjustment to be estimated using GE MAPS model run(s) based on most recent CARIS database to identify adjustment factors for net EAS revenue estimation LOE adjustment factors based on ratio of (1) LBMP at tariff-prescribed excess conditions and (2) LBMP under current resource conditions Adjustment factors calculated by zone, by month, and by intra-month period (e.g., off-peak, on-peak, high on-peak) Adjustment would be estimated through adjustment factors established at the time of the DCR and would remain fixed until the next DCR Page 14
16 Net EAS Revenue Model Description Net EAS revenues model features: Hourly net revenues reflect the maximum of: day-ahead commitment, and real time dispatch, conditional on the unit s day ahead commitment that is, unit operations in real-time may reflect a change in operating status if more profitable given day-ahead commitment o For example, unit may buy-out of DAM reserves commitment if more profitable to supply energy in real-time; or, unit may supply in real-time, if not committed day-ahead Hourly net revenues calculated to ensure that fixed startup fuel and costs are recovered Reserve revenues reflect operating capability of the peaking plant Peaking plant supplies full or no output (no partial unit supply) Dual fuel capability accounted for through the option to generate on natural gas or ULSD based only on day-ahead fuel prices Detail and numerical examples for the net EAS model are provided in the Appendix. Page 15
17 Net EAS Revenue Model Page 16
18 Today s Presentation Periodicity Initial ICAP Demand Curve Values Estimation of Gross CONE Estimation of Net EAS Revenues Determination of ICAP Demand Curve Parameters Annual Updates Updating of Gross CONE Updating of Net EAS Revenues Updating of ICAP Demand Curve Parameters Appendices Net EAS Revenues Numeric Examples Additional Exhibits Page 17
19 Gross CONE Escalation Factor Gross CONE escalated annually by single state-wide composite index, reflecting most current, finalized data available at the time of the update Index Weight Source Data Period BLS, Quarterly Census of Employment and Wages; Utility System Construction, New York Statewide, Wages 25% Private Owner All Establishment Sizes, Average Annual Pay Annual Materials and Components (M&C) Turbines and Turbine Generator Sets (TGen) 30% 30% (Series ID: ENU ) BLS Producer Price Index, Not Seasonally Adjusted, Final Demand-Intermediate Demand Goods Index, Materials and Components for Construction (Series ID: WPUID612) BLS Producer Price Index Commodity Data, Not Seasonally Adjusted, 11 Machinery and equipment, 97 Turbines and Turbine Generator sets (Series ID: WPU1197) Monthly (Year over Year change uses the 3-month average of finalized data, which is Feb/March/Apr for an October update) Other (GDP Deflator) 15% Bureau of Economic Analysis, Gross Domestic Product Implicit Price Deflator, Index 2009 = 100, Seasonally Adjusted Quarterly (Year over Year Change, Q2 and prior year Q2) Initial weights provided by Lummus are preliminary; final values will reflect selected peaking unit technology costs. FEBRUARY PRESENTATION TO NYISO ICAPWG Page 18
20 Today s Presentation Periodicity Initial ICAP Demand Curve Values Estimation of Gross CONE Estimation of Net EAS Revenues Determination of ICAP Demand Curve Parameters Annual Updates Updating of Gross CONE Updating of Net EAS Revenues Updating of ICAP Demand Curve Parameters Appendices Additional Backcasting Analysis Net EAS Revenues Numeric Examples Additional Exhibits Page 19
21 Additional Backcasting Analysis In response to stakeholder requests, new information was developed to inform decisions on proposed DCR process changes Additional backcasting analysis has been performed, including: Comparison of actual historical reference prices to estimated ( backcast ) reference prices that incorporate updating of two reference price elements: 1. Installed capital cost is adjusted annually across the entire 2009 to 2015 period based on the proposed composite escalation factor 2. Net EAS revenue is updated annually based on data from the prior three-years of historic market data Backcast reference prices hold constant all other elements of the reference price calculations; in particular, installed capital costs are not updated to new engineering estimates with each DCR Analysis provides a comparison of: Variability within reset periods due to annual updates Variability between resets due to methodology changes (i.e., new net EAS revenue calculations) Page 20
22 Additional Backcasting Analysis (cont d.) Backcasting results are limited to historical and available information Do not present gas price sensitivities (although sensitivity to gas prices is, in part, captured by historical variation in fuel prices and LBMPs) Do not present econometric estimates of net EAS revenues for alternative technologies Results presented are preliminary and do not reflect final net EAS revenue model and ICAP Demand Curve model: Net EAS revenues are based on preliminary results, using proposals and methodologies described in presentations to ICAPWG Backcasting results of reference point prices presented rely on previous NERA DCR models and assumptions Hold all assumptions (other than installed capital costs and net EAS revenues) constant Page 21
23 Methodology Backcasting analysis incorporates two elements of the updating proposal (within the NERA DCR model): Update of installed capital cost Apply annually updated composite escalation factor to installed capital cost estimates Update of Net EAS revenues Three-year rolling average of net EAS revenues based on historical prices (September to August period) Backcasting results do not include an adjustment to energy revenues for the tariff-prescribed level of excess Results do account for the capacity of the peaking plant when translating annual revenue requirements into monthly reference point prices, using the assumptions from the previous demand curve models developed by NERA Page 22
24 Methodology Results include three series of reference point prices: Actual past reference point prices Backcast of reference point prices, developed using the 2007 NERA model, installed capital cost estimate, and annual update values (red line) Reflects LMS technology for NYC and LI, F-class for NYCA Backcast of reference point prices, developed using the 2013 NERA model, installed capital cost estimate, and annual update values (green line) Reflects F-class for all zones Hypothetical results using the LMS for NYC and LI are included for comparison All results are presented in current year (nominal) dollars Page 23
25 Reference Price ($/kw-month) NYC Reference Price $25 Actual Reference Price 2007 LMS 2013 F-Class $20 $15 $10 $5 $0 LMS LMS F-Class Page 24
26 Reference Price ($/kw-month) NYCA (Zone F) Reference Price $14 Actual Reference Price 2007 F-Class 2013 F-Class $12 $10 $8 $6 $4 $2 F-Class F-Class F-Class $ Page 25
27 Reference Price ($/kw-month) Long Island Reference Price $16 Actual Reference Price 2007 LMS 2013 F-Class $14 $12 $10 $8 $6 $4 $2 $0 LMS LMS F-Class Page 26
NYISO 2015/2016 ICAP Demand Curve Reset
NYISO 2015/2016 ICAP Demand Curve Reset Dual Fuel Capability and Emissions Control Technology ICAPWG June 15, 2016 BOSTON CHICAGO DALLAS DENVER LOS ANGELES MENLO PARK MONTREAL NEW YORK SAN FRANCISCO WASHINGTON
More informationin the NYISO s Market Administration and Control Area Services Tariff ( Services Tariff ).
NYISO 15-25 2015/2016 ICAP Demand Curve Reset RFP 1.3 RFP Objectives, Scope, and Deliverables The objective of this Request for Proposal is to select a consultant to conduct a study of the parameters,
More informationNumerical Example of Net Short Threshold for Self Supply Exemption
Numerical Example of Net Short Threshold for Self Supply Exemption Julia Popova, PhD Economist, ICAP Market Mitigation New York Independent System Operator ICAP WG April 06, 2016 Krey Blvd, Rensselaer,
More informationRenewables and Self Supply Compliance Filing
Renewables and Self Supply Compliance Filing Dr. Nicole Bouchez Principal Economist, Market Design New York Independent System Operator Dr. Julia Popova Economist, ICAP Market Mitigation New York Independent
More informationComprehensive Shortage Pricing
Comprehensive Shortage Pricing Mike DeSocio Manager, Energy Market Design New York Independent System Operator Management Committee December 17, 2014 Krey Corporate Center 2014 New York Independent System
More informationICA Demand Curve Development:
ICA Demand Curve Development: Proposed Approach for Ontario PRESENTED TO Market Renewal Incremental Capacity Auction Stakeholder Group PRESENTED BY Kathleen Spees Johannes Pfeifenberger Yingxia Yang John
More informationCarbon Charge Proposal Evaluation PREPARED BY: PREPARED FOR: DATE:
Carbon Charge Proposal Evaluation PREPARED BY: PREPARED FOR: DATE: MARC D MONTALVO & MATTHEW LOIACONO IPPTF MEETING AUGUST 20, 2018 Overview Background Work Plan Methodology Input Assumptions Results Questions
More informationAlternative Methods for Determining LCRs
Alternative Methods for Determining LCRs Zachary Stines Associate Market Design Specialist Installed Capacity Working Group June 29, 2017, NYISO Agenda Phase 2: Refining the Methodology Transmission Security
More informationCarbon Pricing Straw Proposal. A Report Prepared for the Integrating Public Policy Task Force. April 30, 2018 DRAFT FOR DISCUSSION PURPOSES ONLY
Carbon Pricing Straw Proposal A Report Prepared for the Integrating Public Policy Task Force April 30, 2018 DRAFT FOR DISCUSSION PURPOSES ONLY Table of Contents INTRODUCTION... 3 CONCEPT FOR CARBON PRICING...
More informationCarbon Pricing Straw Proposal. A Report Prepared for the Integrating Public Policy Task Force. April 30, 2018 DRAFT FOR DISCUSSION PURPOSES ONLY
Carbon Pricing Straw Proposal A Report Prepared for the Integrating Public Policy Task Force April 30, 2018 DRAFT FOR DISCUSSION PURPOSES ONLY Table of Contents INTRODUCTION... 3 CONCEPT FOR CARBON PRICING...
More informationConcepts for Behind-the- Meter Net Generation
Concepts for Behind-the- Meter Net Generation Pradip Ganesan Donna Pratt New York Independent System Operator Joint Meeting of Installed Capacity, Market Issues and Price Responsive Load Working Groups
More informationExpanding Capacity Eligibility
Expanding Capacity Eligibility Zachary T. Smith Manager, Capacity Market Design ICAPWG/MIWG March 7 th, 2019 Agenda Background Installed Capacity Supplier Payment Structure Peak Load Windows Counting MWs
More informationCalculation of Demand Curve Parameters
Calculation of Demand Curve Parameters Rationale 4.1 Resource adequacy standard 4.1.1 The resource adequacy standard announced by the Government of Alberta prescribes a minimum level of reliability as
More informationGas and Electric Coordination: Is It Needed? If So, For What End?
Gas and Electric Coordination: Is It Needed? If So, For What End? Todd Schatzki Vice President Analysis Group, Inc. Presented to: Harvard Electric Policy Group, Cambridge, MA, November 11, 2012 BOSTON
More informationHighlights from the Quarterly Report on the New York ISO Electricity Markets Third Quarter of 2017
Highlights from the Quarterly Report on the New York ISO Electricity Markets Third Quarter of 2017 Pallas LeeVanSchaick Potomac Economics Market Monitoring Unit Market Issues Working Group November 29,
More informationOutlook for the New York wholesale power market and analysis of the drivers of transmission congestion within the New York Markets
Outlook for the New York wholesale power market and analysis of the drivers of transmission congestion within the New York Markets July 1st, 2015 Prepared for Hudson Valley Smart Energy Coalition by Julia
More informationStudy to Establish New York Electricity Market ICAP Demand Curve Parameters
Study to Establish New York Electricity Market ICAP Demand Curve Parameters Values for the 2017/18 ICAP Demand Curves All values will be updated in September 2016 with data for the period September 1,
More informationPreliminary Cost and Performance Data Peaking Unit and Combined Cycle Technologies
Preliminary Cost and Performance Data Peaking Unit and Combined Cycle Technologies Debra Richert William Frazier Tom Vivenzio April 25, 2016 New York Independent System Operator Installed Capacity Working
More information3.3.1 Cost of New Entry
Section 3: Demand in Reliability Price Model 3.3.1 Cost of New Entry The value for Cost of New Entry (CONE) (in ICAP terms) is determined in accordance with Attachment DD of the Open Access Transmission
More informationCarbon Pricing Straw Proposal Overview
Carbon Pricing Straw Proposal Overview Mike DeSocio NYISO IPPTF May 12, 2018, KCC, Rensselaer, NY Agenda Introduction IPPTF Issue Tracks Concept for Carbon Pricing Setting the Gross Social Cost of Carbon
More informationICA Demand Curve Analysis
ICA Demand Curve Analysis Preliminary Findings Regarding the Demand Curve for a Two-Season Auction PREPARED FOR Independent Electricity System Operator Market Renewal Incremental Capacity Auction Stakeholders
More informationDraft Results Capital Cost and Performance of New Entrant Peaking Unit
Draft Results Capital Cost and Performance of New Entrant Peaking Unit Presentation to Christopher D. Ungate, Senior Consultant 1 Scope of New Entrant Peaking Unit Assumptions Peaking Unit Technology:
More informationCapacity Resource Performance in NYISO Markets
Capacity Resource Performance in NYISO Markets An Assessment of Wholesale Market Options Paul Hibbard Todd Schatzki Sarah Bolthrunis Analysis Group Inc. October 2017 Acknowledgments This report reviews
More informationMarket Impact Assessment: Preliminary DAM Results Overview
Market Impact Assessment: Preliminary DAM Results Overview Nicole Bouchez, Ph.D. Michael Swider Market Issues Working Group April 24, 2017, Rensselaer NY Agenda Overview of the Integrating Public Policy
More informationEthan D. Avallone Senior Market Design Specialist, Energy Market Design ICAPWG/TPAS February 21, 2018 Rensselaer, NY
Performance Assurance Management Response to Analysis Group s Capacity Resource Performance in NYISO Markets: An Assessment of Wholesale Market Options Ethan D. Avallone Senior Market Design Specialist,
More informationDemand Curve Shape. Preliminary Modeling Results and Scoping Questions. Demand Curve Working Group P R E P A R E D F O R P R E P A R E D B Y
Demand Curve Shape Preliminary Modeling Results and Scoping Questions P R E P A R E D F O R Demand Curve Working Group P R E P A R E D B Y Kathleen Spees Judy Chang Johannes Pfeifenberger David Luke Oates
More informationDonna Pratt Manager, Demand Response Products New York Independent System Operator
Incremental ACL for SCRs Donna Pratt Manager, Demand Response Products New York Independent System Operator Joint Price Responsive Load and Installed Capacity Working Groups September 11, 2012 2011 New
More informationMarket Design Concepts to Prepare for Significant Renewable Generation
Market Design Concepts to Prepare for Significant Renewable Generation Flexible Ramping Product Ethan D. Avallone SENIOR MARKET DESIGN SPECIALIST ENERGY MARKET DESIGN Market Issues Working Group April
More information2001 Annual Report on the New York Electricity Markets
2001 Annual Report on the New York Electricity Markets Presented to: New York ISO Management Committee David B. Patton, Ph.D. Independent Market Advisor April 16, 2002 Conclusions and Recommendations The
More informationLocational Based Marginal Pricing
Locational Based Marginal Pricing Gina Craan Manager, Market Training, NYISO Market Overview Course March 8, 2018 Rensselaer, NY 12144 1 Locational Based Marginal Pricing Attendees will be able to Explain
More information2015 Annual Incentive Goals
2015 Annual Incentive Goals Budget & Priorities Working Group November 21, 2014 Jennifer Chatt Vice President - Human Resources 2014 New York Independent System Operator, Inc. All Rights DRAFT FOR DISCUSSION
More informationProposal for New Capacity Zone Impact Analysis
Proposal for New Capacity Zone Impact Analysis Tariq N. Niazi Senior Manager, Consumer Interest Liaison New York Independent System Operator Installed Capacity Working Group September 11, 2012 KCC Proposed
More informationNYISO s Integrating Public Policy Project
NYISO s Integrating Public Policy Project Phase 2: Study Description and Assumption Review Dr. Nicole Bouchez & Mike Swider MIWG Krey Blvd, Rensselaer February 16, 2017 2000-2017 New York Independent System
More informationCapacity Performance Proposal. Summary of Key Design Elements
December 3, 2014 This page is intentionally left blank. PJM 2014 1 P a g e Capacity Product Synopsis PJM Interconnection is proposing a single capacity product called Capacity Performance, similar to the
More informationParticipation in the monthly auction and the capability period auction shall consist of:
New York Capacity Market (NYISO Installed Capacity Market) The term Installed Capacity in the ICAP Manual and the NYISO Services Tariff Manual describes the market as opposed to the product. For example,
More informationCompliance with FERC Order on Technical Conference re: Treatment of Zone K Export Constraints into the G-J Locality
Compliance with FERC Order on Technical Conference re: Treatment of Zone K Export Constraints into the G-J Locality Randy Wyatt Capacity Market Products New York Independent System Operator ICAPWG February
More informationSummary of Integrated Capacity and Energy Revenue Modelling
Summary of Integrated Capacity and Energy Revenue Modelling Prepared by: Alberta Electric System Operator Date: January 26, 2018 Public Table of Contents 1. Summary of Integrated Capacity and Energy Revenue
More informationHybrid GT Pricing Improvements
Hybrid GT Pricing Improvements Ethan Avallone Market Design Specialist Management Committee September 28, 2016 KCC 2000-2016 New York Independent System Operator, Inc. All Rights Reserved. Agenda Proposal
More informationCalculation of Demand Curve Parameters
Calculation of Demand Curve Parameters Rationale 4.1 Resource adequacy standard 4.1.1 The resource adequacy standard announced by the Government of Alberta prescribes the minimum level of reliability to
More informationCompetitive Entry Exemption: New Proposal
Competitive Entry Exemption: New Proposal Dr. Nicole Bouchez Principal Economist, Market Design New York Independent System Operator Installed Capacity Working Group December 10, 2013 KCC 2013 New York
More information2018/2019 NYSRC RELIABILITY RULE A.2 REQUIREMENTS R1, R2, R3 COMPLIANCE SUBMITTAL
2018/2019 NYSRC RELIABILITY RULE A.2 REQUIREMENTS R1, R2, R3 COMPLIANCE SUBMITTAL COVERING THE NEW YORK CONTROL AREA For the 2018 2019 Capability Year Presented to the Reliability Compliance Monitoring
More informationComparison Matrix of Existing Capacity Market Attributes: RPM & FCM
Comparison Matrix of Existing Capacity Market Attributes: RPM & FCM RPM / PJM FCM / ISO-NE Qualification for Existing Resources Qualification for New Resources Procurement cycle Commitment Term Base Auction
More informationUNITED STATES OF AMERICA FEDERAL ENERGY REGULATORY COMMISSION
UNITED STATES OF AMERICA FEDERAL ENERGY REGULATORY COMMISSION California Independent System ) Docket Nos. ER12-1630 Operator Corporation ) ER14-971 Informational Report of the California Independent System
More informationUpdate on Northeast Seams Issues. February 20, 2008 NYISO Business Issues Committee Meeting
Update on Northeast Seams Issues February 20, 2008 NYISO Business Issues Committee Meeting Status of Seams Projects Current Deliverables Project 1. Intra-Hour Transaction Scheduling NYISO and ISO-NE have
More informationCarbon Pricing Supplemental Analysis
Carbon Pricing Supplemental Analysis Analysis Group s Analysis of Economic Impacts of the NYISO Carbon Pricing Proposal for New York State Sue Tierney, Senior Advisor, and Paul Hibbard, Principal Analysis
More informationBEFORE THE PENNSYLVANIA PUBLIC UTILITY COMMISSION Total Resource Cost (TRC) Test : Docket No. M
BEFORE THE PENNSYLVANIA PUBLIC UTILITY COMMISSION 2016 Total Resource Cost (TRC) Test : Docket No. M-2015-2468992 COMMENTS OF PECO ENERGY COMPANY ON THE PROPOSED 2016 REVISIONS TO THE TOTAL RESOURCE COST
More informationPrice Formation Education Session Day 1 Economic Dispatch
Slide 1 Price Formation Education Session Day 1 Economic Dispatch Anthony Giacomoni Melissa Maxwell Laura Walter December 4, 2017 Slide 2 Disclaimer Slide This is not a committee meeting. This session
More informationScarcity Pricing Informational FERC Filing
Scarcity Pricing Informational FERC Filing Dr. Nicole Bouchez Principal Economist, Market Design New York Independent System Operator Market Issues Working Group (MIWG) October 8, 2013 FERC Requirement
More informationCarbon Pricing Import/Export Transaction Examples
Carbon Pricing Import/Export Transaction Examples Ethan D. Avallone SENIOR MARKET DESIGN SPECIALIST ENERGY MARKET DESIGN Market Issues Working Group (MIWG) January 15, 2019Rensselaer NY Agenda Purpose
More informationConcepts for Changes to ACL for SCRs
Concepts for Changes to ACL for SCRs Donna Pratt Manager, Demand Response Products New York Independent System Operator Joint Price Responsive Load and Installed Capacity Working Groups February 14, 2013
More informationPrice Formation Education 4: Shortage Pricing and Operating Reserve Demand Curve
Price Formation Education 4: Shortage Pricing and Operating Reserve Demand Curve Patricio Rocha Garrido Lisa Morelli Laura Walter Disclaimer This is not a committee meeting. This session is for educational
More informationPreliminary Assumptions for On-Shore Wind Technologies. Gillian Charles GRAC October 2, 2014
Preliminary Assumptions for On-Shore Wind Technologies Gillian Charles GRAC October 2, 2014 At the last meeting Discussed current status of wind development in PNW Reviewed recent trends in development
More informationNet Revenue. Overview Net Revenue. Conclusion. Historical New Entrant CT and CC Revenue Adequacy
Section 7 Net Revenue Net Revenue The Market Monitoring Unit (MMU) analyzed measures of PJM energy market structure, participant conduct and market performance. As part of the review of market performance,
More informationNet Revenue. Overview Net Revenue. Conclusion
Section 7 Net Revenue Net Revenue The Market Monitoring Unit (MMU) analyzed measures of PJM energy market structure, participant conduct and market performance. As part of the review of market performance,
More information2016 State of the Market Report: Energy & Ancillary Services Market Highlights
State of the Market Report: Energy & Ancillary Services Market Highlights Pallas LeeVanSchaick NYISO Market Monitoring Unit Potomac Economics Market Issues Working Group June 6, 2017 Overview Schedule
More informationAnalysis of a New York Carbon Charge
Analysis of a New York Carbon Charge PRESENTED TO IPPTF Stakeholders PREPARED BY Sam Newell Bruce Tsuchida Michael Hagerty Roger Lueken Tony Lee September 17, 2018 Copyright 2018 The Brattle Group, Inc.
More informationApplicable New York Wholesale Electricity Supplier Emissions
Applicable New York Wholesale Electricity Supplier Emissions Nathaniel Gilbraith NYISO IPPTF May 21, 2018, KCC, Rensselaer, NY Agenda Presentation objective Market design first principles Applicable NY
More informationRefinement to Comparison between sequential selection and co-optimization between energy and ancillary service markets
Refinement to Comparison between sequential selection and co-optimization between energy and ancillary service markets Date: Wednesday, January 10, 2018 Draft for discussion Click here to enter names of
More informationWinter 2015 Cold Weather Operations
Winter 2015 Cold Weather Operations Wes Yeomans Vice President - Operations New York Independent System Operator Management Committee March 31, 2015 Rensselaer, NY 2015 New York Independent System Operator,
More informationImplementation of New Capacity Zone in Class Year Deliverability Studies
Implementation of New Capacity Zone in Class Year Deliverability Studies Steven Corey Manager, Interconnection Projects New York Independent System Operator ICAP Working Group February 14, 2013 NYISO 2013
More informationBroader Regional Markets Report
Broader Regional Markets Report Rana Mukerji SENIOR VICE PRESIDENT MARKET STRUCTURES, NYISO Business Issues Committee Meeting June 20, 2018, Rensselear, NY 1 Market-to-Market Coordination-PJM Implement
More informationBroader Regional Markets Report
Broader Regional Markets Report Rana Mukerji SENIOR VICE PRESIDENT MARKET STRUCTURES, NYISO Business Issues Committee Meeting February 14, 2018, Rensselear, NY 1 Market-to-Market Coordination-PJM Implement
More informationGovernance and Technical Demand Curve Parameters. May 4, 2018
Governance and Technical Demand Curve Parameters May 4, 2018 Outline Demand in energy and capacity markets Capacity Market Demand Curve What is it? Why is it required? Principles to the Alberta Demand
More informationNew England States Committee on Electricity
Renewable and Clean Mechanisms 2.0 Study Phase I: Scenario Analysis Winter 2017 New England States Committee on Electricity Overview Context Analytical Approach and Modeling Assumptions Scenario Analysis
More informationLocational Export Capacity Proposal
Locational Export Capacity Proposal Joshua A. Boles ICAP Market Operations New York Independent System Operator jboles@nyiso.com 518-356-6293 Business Issues Committee October 20, 2016 NYISO 2000-2016
More informationMarkets Report. Jennifer Warner-Freeman Senior Economist, Market Analysis March 19, PJM 2018
Markets Report Jennifer Warner-Freeman Senior Economist, Market Analysis March 19, 2018 www.pjm.com Executive Summary PJM Wholesale Cost through February 2018 was $77.41/MWh, up from full-year 2017 costs
More information2011 Congestion Assessment and Resource Integration Study
2011 Congestion Assessment and Resource Integration Study Comprehensive System Planning Process CARIS Phase 1 Final Report March 20, 2012 NYISO System Resources and Planning staff can be reached at 518-356-6000
More informationPJM ENERGY PRICES 2005 Response to Howard M. Spinner Paper
PJM ENERGY PRICES 2005 Response to Howard M. Spinner Paper Joseph Bowring PJM Market Monitor Response to Howard M. Spinner Paper Re: PJM Energy Prices 2005 A March 13, 2006 paper ( Spinner paper ) by Howard
More information2017 Project Prioritization & Budgeting Process
2017 Project Prioritization & Budgeting Process Ryan Smith Senior Manager Budget & Priorities Working Group June 24, 2016 Krey Corporate Center 2000-2016 New York Independent System Operator, Inc. All
More informationCapacity Markets in the Northeast:
Capacity Markets in the Northeast: A Preview of Comments at the FERC Technical Conference on Centralized Capacity Markets in RTOs/ISOs Sue Tierney, Analysis Group IPPNY Fall Conference Saratoga Springs,
More informationDemand Response. Overview. Recommendations
Section 6 Demand Response Demand Response Markets require both a supply side and a demand side to function effectively. The demand side of wholesale electricity markets is underdeveloped. Wholesale power
More informationTreatment of Zone K Export Constraints into the G-J Locality : Market Design Concept
Treatment of Zone K Export Constraints into the G-J Locality : Market Design Concept Randy Wyatt Capacity Market Products New York Independent System Operator MIWG/ICAPWG December 18, 2014 NYISO, Rensselaer,
More informationStakeholder Requests for Information and PJM Responses
Stakeholder Requests for Information and PJM Responses Question: 1 Please identify the increase in Gross CONE for the reference CT unit (GE Frame 7FA) in SWMAAC caused by PJM s adoption of the Brattle
More informationCongestion Assessment and Resource Integration Studies. A Report by the New York Independent System Operator
Congestion Assessment and Resource Integration Studies A Report by the New York Independent System Operator April 2018 2017 Congestion Assessment and Resource Integration Study Comprehensive System Planning
More informationStakeholder Meeting Installed Capacity Demand Curves
Stakeholder Meeting Installed Capacity Demand Curves Debra Richert William Frazier Tom Vivenzio December 16, 2015 New York Independent System Operator A World of Solutions TM 0 Agenda 1. Tariff Requirements
More informationNYISO Management Response to FTI Consulting Report Evaluation of the New York Capacity Market
NYISO Management Response to FTI Consulting Report Evaluation of the New York Capacity Market March 2013 Evaluation of the New York Capacity Market Introduction In an effort to evaluate and, where appropriate,
More informationNet Revenue. Overview Net Revenue. Net Revenue. Conclusion
Section 7 Net Revenue Net Revenue The Market Monitoring Unit (MMU) analyzed measures of PJM energy market structure, participant conduct and market performance. As part of the review of market performance,
More informationCSTF Poll Feedback. 02 June 2014
Prioritization and degree of support feedback: CSTF Poll Feedback 02 June 2014 Discuss SWMAAC specific CONE determination issues. May Disagree with PJM/Brattle position once have had opportunity to review
More informationNEW YORK INDEPENDENT SYSTEM OPERATOR
NEW YORK INDEPENDENT SYSTEM OPERATOR Proposed NYISO Installed Capacity Demand Curves For Capability Year 2017/2018 and Annual Update Methodology and Inputs For Capability Years 2018/2019, 2019/2020, and
More informationRegulatory Commission s ( Commission ) Office of Energy Market Regulation issued on
2750 Monroe Blvd. Audubon, PA 19403-2497 Chenchao Lu Counsel T: (610) 666-2255 F: (610) 666-8211 Chenchao.Lu@pjm.com The Honorable Kimberly D. Bose Secretary Federal Energy Regulatory Commission 888 First
More informationMonitoring Analytics. Introduction. Operating Parameters. Generation Costs
Introduction Pursuant to Attachment DD, Section 5.10(a)(v)(A, B and C) of the PJM Tariff, PJM provides the net energy and ancillary services revenue offset data for the PJM Region and each LDA or Region
More information/s/ Henry Chao Henry Chao Vice President, System Resource Planning. December 9, 2013
December 9, 2013 10 Krey Boulevard Rensselaer, NY 12144 Re: NYISO 2013 Congestion Assessment and Resource Integration Studies Report Dear NYISO Economic Planning Interested Parties: On November 19, 2013
More informationStakeholder Meeting Installed Capacity Demand Curves
Stakeholder Meeting Installed Capacity Demand Curves Debra Richert William Frazier October 19, 2015 New York Independent System Operator A World of Solutions TM 0 Agenda 1. Introduction 2. Lummus Consultants
More informationAlberta Capacity Market
Alberta Capacity Market Comprehensive Market Design (CMD 1) Design Proposal Document Section 1: Overview of the Alberta Capacity Market Prepared by: Alberta Electric System Operator Date: January 26, 2018
More information2010 RTO Metrics Report: NESCOE Data Summary
New England States Committee on Electricity NESCOE Phone: 23-38-1477 E-Mail: AllisonSmith@nescoe.com Web: www.nescoe.com 21 RTO Metrics Report: NESCOE Data Summary Allison Smith ABSTRACT Summary of comparative
More informationAncillary Service Markets
Section 9 Ancillary Services Ancillary Service Markets The United States Federal Energy Regulatory Commission (FERC) defined six ancillary services in Order No. 888: 1) scheduling, system control and dispatch;
More informationDemand Response. Mathangi Srinivasan. New York Market Orientation Course (NYMOC) Senior Market Trainer, NYISO. March 20-23, 2018 Rensselaer, NY 12144
Demand Response Mathangi Srinivasan Senior Market Trainer, NYISO New York Market Orientation Course (NYMOC) March 20-23, 2018 Rensselaer, NY 12144 1 Demand Response Module Objectives Upon completion of
More informationBroader Regional Markets Report
Broader Regional Markets Report Rana Mukerji SENIOR VICE PRESIDENT MARKET STRUCTURES, NYISO Business Issues Committee Meeting April 11, 2018, Rensselear, NY 1 Market-to-Market Coordination-PJM Implement
More informationBroader Regional Markets Report
Broader Regional Markets Report Rana Mukerji SENIOR VICE PRESIDENT MARKET STRUCTURES, NYISO Business Issues Committee Meeting August 13, 2018, Rensselear, NY 1 Market-to-Market Coordination-PJM Implement
More informationDRAFT Version 1.2 of Installed Capacity Manual Attachment D For Discussion at Installed Capacity WG Meeting on January 27, 2005
Attachment D: Dependable Maximum Net Capability, Audit Forms, the Procedure to Adjust a Resource s Proven Maximum Production Capability and the Procedure to Weather Adjust DMNC Test Data 1.0 Introduction
More informationEnergy Uplift (Operating Reserves)
Section 4 Energy Uplift Energy Uplift (Operating Reserves) Energy uplift is paid to market participants under specified conditions in order to ensure that resources are not required to operate for the
More informationThe Year to Date in PJM: Operations and Markets
The Year to Date in PJM: Operations and Markets Kerry Stroup Manager, State Government Policy PJM Interconnection OMA Energy Committee July 30, 2014 OMA Energy Committee Presentation Outline PJM s mission:
More informationUpdate on the Market Renewal Program
Update on the Market Renewal Program Update to Technical Panel September 26, 2017 Overview Introduction Defining Market Renewal Update on Engagement and MRWG Priorities Looking Ahead Appendix: Why We Need
More informationACKNOWLEDGEMENT. The following members of the Department of Market Monitoring contributed to this report:
ACKNOWLEDGEMENT The following members of the Department of Market Monitoring contributed to this report: Eric Hildebrandt Keith Collins Jeffrey McDonald Brad Cooper Amol Deshmukh Erdal Kara Serhiy Kotsan
More informationE&AS Offset Proposal Example
E&AS Offset Proposal Example Paul M. Sotkiewicz, Ph.D CSTF July 25, 2014 Revised and annotated August 1, 2014 Brattle Recommendation Develop a forward looking E&AS methodology 3 year historical can be
More informationIndustry Perspectives on FERC Standard Market Design
Industry Perspectives on FERC Standard Market Design By Dr. Roberto F. Paliza Midwest Independent Transmission System Operator, Inc. IEEE Summer Meeting July 23, 2002 Chicago, IL Overview MISO Markets
More informationINCREMENTAL CAPACITY AUCTION (ICA)
INCREMENTAL CAPACITY AUCTION (ICA) Participation Model Preliminary Decisions October 18 & 19, 2018 Disclaimer This presentation and the information contained herein is provided for information and discussion
More informationDIRECT ENERGY PJM MIC. Marji Philips Tyler Little August 12, 2015
DIRECT ENERGY PJM MIC Marji Philips Marjorie.philips@directenergy.com Tyler Little Tyler.Little@directenergy.com August 12, 2015 1 Background PJM Energy Cap was put in place 18 years ago based on fuel
More informationPricing Carbon into NYISO s Wholesale Energy Market
Pricing Carbon into NYISO s Wholesale Energy Market Study Overview and Summary of Findings P R E S E N T E D T O NYISO Business Issues Committee P R E P A R E D B Y Sam Newell Roger Lueken Tony Lee S e
More informationUplift in the NYISO Markets
Uplift in the NYISO Markets Michael DeSocio Manager, Energy Market Design New York Independent System Operator PJM Energy Market Uplift Task Force November 13, 2014 Valley Forge, PA 2014 New York Independent
More information