ICA Demand Curve Development:
|
|
- Elinor Richard
- 6 years ago
- Views:
Transcription
1 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 Imon Pedtke January 24th, 2018 Copyright 2017 The Brattle Group, Inc.
2 Agenda Overview Modeling Approach Illustrative Results Next Steps 1 brattle.com
3 Overview The IESO and stakeholders have engaged in a comprehensive discussion of the conceptual approach and principles for developing a capacity auction demand curve in Ontario The IESO has asked us to assist by informing the IESO and stakeholders about the potential implications of various demand curve shapes on auction outcomes for the purpose of the high level design (specific parameters will not be developed until the detailed design stage) Our objectives today are to: Share a proposed approach to evaluating a range of demand curves, considering Ontario s unique market and policy context, and Request stakeholder input on the approach, questions, and results needed to inform the demand curve Based on feedback from stakeholders, we will provide a preliminary analysis by April 2018 and support the development of a workable range for the system demand curve in the high-level design by Q brattle.com
4 Overview Objectives to Consider in a Demand Curve The starting point to drive demand curve design is a clear set of design objectives and performance criteria. We are seeking input on the specific reliability objectives to adopt and performance criteria to prioritize Demand Curve Objectives Reliability Maintain 1-in-10 LOLE target Possibly: Rarely drop below a minimum acceptable reserve margin corresponding to a 1-in-5 LOLE level where IESO might intervene Possibly: Meet specific reliability targets in summer and winter seasons Efficient Prices Support long-run average price at Net CONE, consistent with a market capable of attracting sufficient merchant entry to attain reliability objectives Short-run prices consistent with current fundamentals, going above Net CONE during shortage and below Net CONE during surplus Possibly: Rationalize prices according to the incremental value of capacity Mitigate Price Volatility Reduce price volatility impact from lumpiness and small movements and uncertainties in supply, demand, and transmission Few outcomes at the administrative cap Other Reduce susceptibility to market power Minimize contentiousness and uncertainty from administrative parameters 3 brattle.com
5 Overview Experience in Other Capacity Auctions Other markets have considered marginal reliability value, Monte Carlo analysis, and stakeholder input when developing capacity demand curves ISO-NE Originally adopted a vertical demand curve (resulting in performance concerns) Developed downward-sloping curve based on Monte Carlo simulation Current demand curve is based on marginal reliability value of incremental capacity PJM Used Monte Carlo approach to assess demand curve performance and propose new curve in 2014 Engaged in stakeholder discussions on changes Periodic review of demand curve shape every 4 years Demand Curves in other Jurisdictions PJM ISO-NE Reliability Requirement AESO Candidate Curve (1 of 3 being considered) NYISO NYISO Demand curve parameters are fully re-evaluated every 4 years, with annual updates Slope and zero crossing point informed by marginal reliability value Pricing points informed by financial model of reference technology revenues AESO Design effort is in progress Monte Carlo model to assess price and reliability impacts of candidate demand curves Started with base assumptions and used stakeholder questions and input to refine assumptions and curve parameters Currently narrowed down to three recommended curves Sources: PJM 2014 Triennial Review of VRR Curve, PJM Manual 18, 2014 ISO-NE Testimony, 2016 ISO-NE MRI Based Demand Curve Approval, NYISO 2016 Tariff Revisions Approval, NYISO 2016 ICAP Demand Curve Reset, AESO Draft Proposed Demand Curve Shapes 4 brattle.com
6 Agenda Overview Modeling Approach Illustrative Results Next Steps 5 brattle.com
7 Modeling Approach Overview of Proposed Modeling Approach Approach Incorporate supply and demand curves Clear supply and demand to calculate prices and quantities in the auction Simulate a distribution of outcomes using a Monte Carlo analysis of realistic shocks to supply, demand, and imports, based on Ontario-specific empirical data Average price over all draws must equal Net CONE,* consistent with a market that supports entry at long-run marginal cost (though prices in any one year reflect short-term supply/demand fundamentals) Both annual and seasonal market designs will be considered with separate inputs for supply, demand, and shocks Primary Model Results Estimate average, range, and distribution of price, quantity, and reliability outcomes Compare performance of different demand curve shapes relative to objectives/criteria Supply and Demand Shocks (Illustrative) Range of Price Outcomes Demand Shocks Supply Shocks Range of Quantity Outcomes Net CONE *An indicative Net CONE parameter will be adopted for the purposes of this analysis, considering the Net CONE of a range of potential reference technologies. A sensitivity analysis will also be conducted to evaluate the extent to which different values would affect the demand curve shape. 6 brattle.com
8 Modeling Approach Supply Modeling In-auction supply curves consist of three components Shape Blocks Supply offers at prices above zero Shape based on historical PJM offer curve shape Scaled to total MW of in-auction supply (only a subset of the Ontario market) In-Auction Supply Curve Components (Illustrative) Shock Block Zero-priced supply block Quantity varies with each draw to generate shocks to the supply curve Represents expected year-to-year variability from entry and exit (including policy-driven variability) Shape Blocks Smart Block Zero-priced supply block Smart Block Shock Block Quantity adjusted such that the average price across all draws equals Net CONE Consistent with economic theory that supply will enter (or exit) until prices are at long-run marginal cost 7 brattle.com
9 Modeling Approach Demand and Reliability Modeling Demand Curves Arbitrary number of price-quantity pairs Quantities are relative to the reliability requirement Prices expressed as % of Net CONE Reliability Simulation reliability results are evaluated with respect to loss of load expectation (LOLE) LOLE curve and target are based on IESO s most recent reliability modeling Using quantity outputs, the LOLE is tabulated over all simulation draws to estimate weighted-average reliability outcomes Demand Curve and Reliability (Illustrative) LOLE Curve Reliability Requirement: 0.1 LOLE 8 brattle.com
10 Modeling Approach Candidate Curves to Evaluate We plan to test a range of demand curves for performance in Ontario s context We are seeking input from stakeholders on the specific curves to evaluate, as well as questions that are specific to performance in Ontario s context Potential Curves to Evaluate Other regions curves: PJM, NYISO, ISO- NE, Alberta Steeper vs. flatter curves; higher and lower price caps Convex and linear curves Curves tuned to reliability objectives Questions in Ontario s Context How does the incremental nature of the auction affect demand curve performance and design? How should seasonal curves consider revenue sufficiency and reliability across seasons? What are the tradeoffs between seasonal and annual approaches? 9 brattle.com
11 Modeling Approach Unique Characteristics of Ontario s Market Ontario s market has a number of unique characteristics that we will consider and account for in the demand curve analyses Components Ontario s Unique Characteristics to be Considered Supply Large share of rate-regulated / contracted supply (leaving a residual share as in-auction supply, with that share growing over time) Total market size similar to New England, New York, or sub-regions of PJM, but merchant share of the auction will be significantly smaller Shocks to supply influenced by policy uncertainties Demand Demand shocks informed by Ontario-specific peak load variability and forecast uncertainty Will use an indicative screening analysis of Net CONE in Ontario, considering a range of possible reference technologies Both annual and seasonal auction design alternatives to be considered (until a final decision is made) Reliability Reliability requirement of 0.1 LOLE Ontario LOLE curve based on generation fleet and demand profiles Transmission Scale of potential capacity trade with neighboring regions Evaluating the shape of locational demand curves postponed until detailed design phase 10 brattle.com
12 Agenda Overview Modeling Approach Illustrative Results Next Steps 11 brattle.com
13 Illustrative Results Example Demand Curves Analysis for ISO-NE Stakeholders in New England proposed a number of curves for testing Engaged in an iterative, collaborative process with ISO New England stakeholders to identify and evaluate a range of potential demand curves Final ISO-NE proposed curve was a consensus recommendation within the workable range, and reflecting a balance of design objectives Representative Subset of Demand Curves Evaluated on Behalf of ISO-NE and Stakeholders Final Proposed Curve Tuned to 1-in-10 reliability Moderate price volatility Drops below 1-in-5 reliability 7% of the time 12 brattle.com
14 Illustrative Results Example Demand Curves Analysis for ISO-NE Cleared price and quantity distributions of different tested demand curves using Monte Carlo modeling approach 13 brattle.com
15 Agenda Overview Modeling Approach Illustrative Results Next Steps 14 brattle.com
16 Next Steps We request stakeholder input and feedback to inform our analysis of a workable range of parameters for the system-wide demand curve for Ontario Timing January 24 (today) Scope Brattle proposed demand curve analysis Request for input April 17 Initial analysis presented to stakeholders Responses to stakeholder questions Additional stakeholder input collected Q Recommended workable range of demand curve parameters to be included in high-level design proposal 15 brattle.com
17 Next Steps Questions for Stakeholders Brattle will work to incorporate feedback and respond to questions posed by the Stakeholder Group. Potential questions to consider: What unique features of Ontario s market should be accounted for when developing the ICA demand curve? What questions do stakeholders have about proposed model approach? What specific metrics should be used to evaluate demand curve performance? What specific demand curve shapes or performance questions would be helpful to evaluate? What scenarios would be helpful to evaluate? 16 brattle.com
18 Contact Information KATHLEEN SPEES Principal Boston, MA JOHANNES PFEIFENBERGER Principal Cambridge, MA YINGXIA YANG Senior Associate Washington, DC The views expressed in this presentation are strictly those of the presenter(s) and do not necessarily state or reflect the views of The Brattle Group, Inc. 17 brattle.com
19 About The Brattle Group The Brattle Group provides consulting and expert testimony in economics, finance, and regulation to corporations, law firms, and governmental agencies worldwide. We combine in-depth industry experience and rigorous analyses to help clients answer complex economic and financial questions in litigation and regulation, develop strategies for changing markets, and make critical business decisions. Our services to the electric power industry include: Climate Change Policy and Planning Rate Design and Cost Allocation Cost of Capital Regulatory Strategy and Litigation Support Demand Forecasting Methodology Renewables Demand Response and Energy Efficiency Resource Planning Electricity Market Modeling Retail Access and Restructuring Energy Asset Valuation Risk Management Energy Contract Litigation Market-Based Rates Environmental Compliance Market Design and Competitive Analysis Fuel and Power Procurement Incentive Regulation Mergers and Acquisitions Transmission 18 brattle.com
20 Offices BOSTON NEW YORK SAN FRANCISCO WASHINGTON, DC TORONTO LONDON MADRID ROME SYDNEY 19 brattle.com
ICA 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 informationDemand Curve Analysis
Demand Curve Analysis Overview of Modeling Approach and Stakeholder Support PREPARED FOR Alberta Electric System Operator PREPARED BY Kathleen Spees Johannes Pfeifenberger Judy Chang David Luke Oates Peter
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 informationDemand Curve Shape. Responses to Stakeholder Questions and Comments. Adequacy & Demand Curve Work 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 Responses to Stakeholder Questions and Comments P R E P A R E D F O R Adequacy & Demand Curve Work Group P R E P A R E D B Y Kathleen Spees Judy Chang Johannes Pfeifenberger David Luke
More informationUniform Price vs. Differentiated Payment Auctions
Uniform Price vs. Differentiated Payment Auctions A Discussion of Advantages and Disadvantages PREPARED FOR Independent Electricity System Operator ICA Fundamentals and Concepts Stakeholder Meeting PREPARED
More informationDecarbonisation and Tomorrow s Electricity Market
Decarbonisation and Tomorrow s Electricity Market P R E S E N T E D A T 2017 IESO Stakeholder Summit P R E S E N T E D B Y Kathleen Spees Co-Authors Johannes P. Pfeifenberger Roger Lueken J u n e 1 2,
More informationCO 2 e Cap-and-Trade. Interactions with Electricity Markets. Association of Power Producers of Ontario. Kathleen Spees P R E S E N T E D T O
CO 2 e Cap-and-Trade Interactions with Electricity Markets P R E S E N T E D T O Association of Power Producers of Ontario P R E S E N T E D B Y Kathleen Spees N o v e m b e r 1 5, 2 0 1 6 Copyright 2016
More informationDemand Response Participation in PJM Markets
Demand Response Participation in PJM Markets Review of PJM Independent Market Monitor s Criticisms and Responses PREPARED FOR Alberta Electric System Operator PREPARED BY Kathleen Spees Hannes Pfeifenberger
More informationRecent Trends and Experience in US Capacity Markets
Recent Trends and Experience in US Capacity Markets PRESENTED TO Solar Ontario Canadian Solar Industries Association PRESENTED BY Walter Graf November 14, 2018 Copyright 2018 The Brattle Group, Inc. Why
More informationEvaluating Cooperation Opportunities Under CAA 111(d)
Evaluating Cooperation Opportunities Under CAA 111(d) PRESENTED TO Eastern Interconnection States Planning Council PRESENTED BY Kathleen Spees Judy Chang October 2, 2015 Copyright 2014 The Brattle Group,
More informationExamining Hydroelectricity s Potential Role in the Alberta Market:
Examining Hydroelectricity s Potential Role in the Alberta Market: Impacts of Market Structure and Economics PRESENTED AT Alberta Power Symposium PRESENTED BY Johannes Pfeifenberger Calgary September 24,
More informationSystem Flexibility and Renewable Energy Integration
System Flexibility and Renewable Energy Integration Overview of Market Design Approaches P R E S E N T E D T O Texas-Germany Bilateral Dialogue on Challenges and Opportunities in the Electricity Market
More informationHidden Values, Missing Markets, and Electricity Policy:
Hidden Values, Missing Markets, and Electricity Policy: The Experience with Storage and Transmission PRESENTED AT Harvard Electricity Policy Group 79 th Plenary Session, Washington, DC PREPARED BY Judy
More informationIESO Market Renewal Project Proposed Approach to the Benefits Case Analysis
IESO Market Renewal Project Proposed Approach to the Benefits Case Analysis P R E S E N T E D T O Independent Electric Systems Operator IESO Market Renewal Working Group P R E S E N T E D B Y Johannes
More informationUsing Competitive Markets to Achieve Policy Objectives
Using Competitive Markets to Achieve Policy Objectives How the Systems Built for Fossil Plants Can Evolve to Support the Clean, Distributed Grid of the Future PRESENTED AT Energy Bar Association 2017 Annual
More informationCapacity Markets. Lessons for New England from the First Decade. Restructuring Roundtable Capacity (and Energy) Market Design in New England
Capacity Markets Lessons for New England from the First Decade P R E S E NTED T O Restructuring Roundtable Capacity (and Energy) Market Design in New England P R E S E NTED B Y Sam Newell F e b r ua r
More informationThe Hidden Battery Opportunities in Electric Water Heating
The Hidden Battery Opportunities in Electric Water Heating PRESENTED TO PLMA Grid Interactive Behind the Meter Storage Interest Group Meeting PRESENTED BY Roger Lueken Ryan Hledik Judy Chang April 18,
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 informationEnergy Storage Value for New York
Energy Storage Value for New York P R E S E N T E D A T : IPPNY Spring Conference P R E S E N T E D B Y Judy Chang Coauthors: Johannes Pfeifenberger Roger Lueken Martha Caulkins Heidi Bishop M a y 8, 2018
More informationAdvancing Past Baseload to a Flexible Grid
Briefing for Senate Energy & Natural Resources Committee Advancing Past Baseload to a Flexible Grid How Grid Planners and Power Markets Are Better Defining System Needs to Achieve a Cost-Effective and
More informationTransmission To Capture Geographic Diversity of Renewables
Transmission To Capture Geographic Diversity of Renewables Cost Savings Associated with Interconnecting Systems with High Renewables Penetration Presented to TransForum West, San Diego Integrating Renewables
More informationWell-Planned Transmission to Integrate Customer Needs and Resources
Well-Planned Transmission to Integrate Customer Needs and Resources PRESENTED AT: WIRES PREPARED BY: Judy Chang Johannes Pfeifenberger July 14, 2017 Copyright 2017 The Brattle Group, Inc. Agenda Electricity
More informationMaximizing the Market Value of Flexible Hydro Generation
Maximizing the Market Value of Flexible Hydro Generation PREPARED BY Pablo Ruiz Jamie Read Johannes Pfeifenberger Judy Chang Roger Lueken March 29, 2018 Copyright 2018 The Brattle Group, Inc. Content Growing
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 informationThe Changing Mix: Reliability and Infrastructure Needs
The Changing Mix: Reliability and Infrastructure Needs NCSL Clean Power Plan Policy Workshop PRESENTED BY Jurgen Weiss, PhD N o v e m b e r 1 0, 2 0 1 5 Copyright 2014 The Brattle Group, Inc. Disclaimer
More informationThe Cutting Edge in Resource Planning
The Cutting Edge in Resource Planning RETHINKING SYSTEM NEEDS AND IN A FUTURE DOMINATED BY RENEWABLES, NEW TECH, AND ENGAGED CONSUMERS PRESENTED TO Solar Energy Industries Association PRESENTED BY Kathleen
More informationEconomic Viability of Combined Heat and Power in ERCOT
WADE Annual Meeting & DistribuGen Conference and NYSERDA CHP Expo October 14-17, 2014, Westchester, New York Economic Viability of Combined Heat and Power in ERCOT PRESENTED BY Yingxia Yang O c t 1 6 t
More informationToward More Effective Transmission Planning
Toward More Effective Transmission Planning PRESENTED TO EEI Energy Delivery Public Policy Executive Advisory Meeting Boston, MA PRESENTED BY Judy W. Chang Johannes Pfeifenberger August 21, 2015 Copyright
More informationThe Changing Role of Hydro Power in Transforming Wholesale Power Markets
The Changing Role of Hydro Power in Transforming Wholesale Power Markets PREPARED FOR Canadian Hydro Power Association Conference PREPARED BY Johannes Pfeifenberger Judy Chang Pablo Ruiz November 21, 2018
More informationEPA s Clean Power Plan
EPA s Clean Power Plan Potential Implications of the Proposed CO 2 Emissions Standard under CAA Section 111(d) PRESENTED TO Harvard Electricity Policy Group October 3, 2014 PRESENTED BY Judy Chang Other
More informationExploring Natural Gas and Renewables in ERCOT, Part IV
Exploring Natural Gas and Renewables in ERCOT, Part IV The Future of Clean Energy in ERCOT P R E P A R E D F O R The Texas Clean Energy Coalition P R E P A R E D B Y Ira Shavel Yingxia Yang Roger Lueken
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 informationIntertie Capacity Value for Alberta
Intertie Capacity Value for Alberta PREPARED FOR PREPARED BY Johannes Pfeifenberger Judy Chang Kathleen Spees Yingxia Yang David Luke Oates Colin McIntyre November 1 st, 2017 This report was prepared for
More informationSCENARIO UPDATE. Non-Emitting Resources Subcommittee. NERSC Phase 2 Modelling Ontario s Future Electricity Markets PRESENTED TO
NERSC Phase 2 Modelling Ontario s Future Electricity Markets SCENARIO UPDATE PRESENTED TO Non-Emitting Resources Subcommittee PREPARED BY Judy Chang Kathleen Spees David Luke Oates John Imon Pedtke August
More informationMarket Design for a Clean Grid
Market Design for a Clean Grid Unlocking the Potential of Non-Emitting and Emerging Technologies P R E S E N T E D T O Non-Emitting Resource Subcommittee P R E S E N T E D B Y Kathleen Spees Matthew Witkin
More informationUNITED STATES OF AMERICA BEFORE THE FEDERAL ENERGY REGULATORY COMMISSION. ) PJM Interconnection, LLC ) Docket No. ER ) )
Page 1 of 15 UNITED STATES OF AMERICA BEFORE THE FEDERAL ENERGY REGULATORY COMMISSION ) PJM Interconnection, LLC ) Docket No. ER14- -000 ) ) AFFIDAVIT OF DR. SAMUEL A. NEWELL AND DR. KATHLEEN SPEES ON
More informationAlberta Capacity Market
Alberta Capacity Market Comprehensive Market Design (CMD 1) Design Rationale Document Section 3: Calculation of Capacity Market Demand Parameters Prepared by: Alberta Electric System Operator Date: January
More informationEnergy Supply and Demand A Market Perspective
Energy Supply and Demand A Market Perspective Presented at: EnergySMART 2012 Conference Westin Hotel, Boston October 1-3, 2012 Presented by: Judy Chang (with contribution from Ahmad Faruqui and Metin Celebi)
More informationEconomics & Markets: Capacity Markets (Presentation to the CIAC) April 17 th, 2018
Economics & Markets: Capacity Markets (Presentation to the CIAC) April 17 th, 2018 The information contained in this document is for information purposes only, and the AESO is not responsible for any errors
More informationDecember 2014 John Dalton
ISO-New England Forward Capacity Auction #9 Summary Price Forecast December 2014 John Dalton 978-369-2465 jdalton@poweradvisoryllc.com ISO-New England s upcoming Forward Capacity Auction prices are likely
More informationFourth Review of PJM s Variable Resource Requirement Curve
Fourth Review of PJM s Variable Resource Requirement Curve PREPARED FOR PREPARED BY Samuel A. Newell David Luke Oates Johannes P. Pfeifenberger Kathleen Spees J. Michael Hagerty John Imon Pedtke Matthew
More informationBattery Storage Development
Battery Storage Development Regulatory and Market Environments PRESENTED TO Philadelphia Area Municipal Analyst Society PREPARED BY Michael Hagerty Judy Chang Heidi Bishop January 18, 2018 Copyright 2018
More informationBattery Storage Development
Battery Storage Development Regulatory and Market Environments PRESENTED TO Philadelphia Area Municipal Analyst Society PREPARED BY Michael Hagerty Judy Chang Heidi Bishop January 18, 2018 Copyright 2015
More informationThe Public Benefits of Leasing Energy Efficient Equipment: A Utility Case Study
The Public Benefits of Leasing Energy Efficient Equipment: A Utility Case Study P R E S E N T E D T O : Center for Research in Regulated Industries (CRRI) 30 th Annual Western Conference P R E S E N T
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 informationGetting to 50 GW? The Role of FERC Order 841, RTOs, States, and Utilities in Unlocking Storage s Potential
Getting to 50 GW? The Role of FERC Order 841, RTOs, States, and Utilities in Unlocking Storage s Potential PRESENTED AT: Energy Storage Association Annual Conference Boston PREPARED BY Judy Chang Roger
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 informationThe Critical Role of Transmission in Clean Power Plan Compliance
The Critical Role of Transmission in Clean Power Plan Compliance PRESENTED TO: Transmission Summit West 2015 PRESENTED BY: Judy W. Chang September 28. 2015 Copyright 2015 The Brattle Group, Inc. Pop Quiz
More informationAlberta Capacity Market
Alberta Capacity Market Comprehensive Market Design (CMD 1) Design Proposal Document Section 3: Calculation of Capacity Market Demand Parameters Prepared by: Alberta Electric System Operator Date: January
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 informationAlberta Capacity Market
Alberta Capacity Market Comprehensive Market Design (CMD 1) Design Rationale Document Section 4: Forward Capacity Auction Prepared by: Alberta Electric System Operator Date: January 26, 2018 Table of Contents
More informationModeling the 1-Step and 2-Step Dispatch Approaches to Account for GHG Emissions from EIM Transfers to Serve CAISO Load
Modeling the 1-Step and 2-Step Dispatch Approaches to Account for GHG Emissions from EIM Transfers to Serve CAISO Load P R E P A R E D B Y : Judy Chang Johannes Pfeifenberger Kai Van Horn Onur Aydin Mariko
More informationPJM Capacity Market. October 5, 2011 OPSI Seventh Annual Meeting Andrew L. Ott, Senior Vice President, Market Services
PJM Capacity Market October 5, 2011 OPSI Seventh Annual Meeting Andrew L. Ott, Senior Vice President, Market Services Capacity vs. Energy Capacity A commitment of a resource to provide energy during PJM
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 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 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 information4 Calculation of Demand Curve Parameters
4 Calculation of Demand Curve Parameters This section addresses the demand curve for the Alberta capacity market, including the calculations for the components of the demand curve. 4.1 Resource adequacy
More informationGetting to 50 GW? The Role of FERC Order 841, RTOs, States, and Utilities in Unlocking Storage s Potential
Getting to 50 GW? The Role of FERC Order 841, RTOs, States, and Utilities in Unlocking Storage s Potential P RE PARED BY Roger Lueken Judy Chang Hannes Pfeifenberger Pablo Ruiz Heidi Bishop February 22,
More informationForecasting the Impact of DSM on Energy Sales
Forecasting the Impact of DSM on Energy Sales P R E S E N T E D T O Edison Electric Institute P R E S E N T E D B Y Ahmad Faruqui, Ph.D. Zhen Wang, Ph.D. S e p t e m b e r 1 4, 2 0 1 7 Copyright 2017 The
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 informationNYISO 2015/2016 ICAP Demand Curve Reset
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 Today s Presentation Provide
More informationAlberta Capacity Market
Alberta Capacity Market Comprehensive Market Design (CMD 1) Design Rationale Document Section 7: Capacity Auction Monitoring and Mitigation Prepared by: Alberta Electric System Operator Date: January 26,
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 informationThe Potential Impact of Solar PV on Electricity Markets in Texas SEIA and the Energy Foundation June 19, 2012
2012 SEIA 2012 SEIA The Potential Impact of Solar PV on Electricity Markets in Texas SEIA and the Energy Foundation June 19, 2012 2012 SEIA Agenda Introduction Carrie Cullen Hitt, SEIA Opening Comments
More informationComparison of Installed Capacity (ICAP) & Unforced Capacity (UCAP) Capacity Value Calculation Methods. Eligibility WG Meeting #3 July 4, 2017
Comparison of Installed Capacity (ICAP) & Unforced Capacity (UCAP) Capacity Value Calculation Methods Eligibility WG Meeting #3 July 4, 2017 Overview The following materials provide an examination of the
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 informationCanadian Wind Energy Association Operations and Maintenance Summit
Canadian Wind Energy Association Operations and Maintenance Summit David Short P.Eng. Director Power System Assessments January 30, 2018 Agenda Health and Safety Introduction and Context Operability Needs
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 informationThe following responses to the Senators questions use the same numbering convention, with the original questions repeated for reference.
Dr. Frank Rusco Director of Natural Resources and Environmental Issues U.S. Government Accountability Office 441 G Street NW Washington, DC 20548 (202) 512-3841 cc: Senator Lisa Murkowski Senator Maria
More informationWhat is a Capacity Market?
What is a Capacity Market? Mechanism that ensures sufficient generation to meet reliability and peak load needs. Additional potential benefit of capacity markets is the incentive to build new generation.
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 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 informationA Dynamic Clean Energy Market in New England
A Dynamic Clean Energy Market in New England PREPARED BY The Brattle Group Kathleen Spees Judy Chang David Luke Oates Tony Lee Coalition Partners Conservation Law Foundation Brookfield Renewable NextEra
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 informationThe 2017/2018 RPM Base Residual Auction: Sensitivity Analyses Revised
The 2017/2018 RPM Base Residual Auction: Sensitivity Analyses Revised The Independent Market Monitor for PJM August 26, 2014 Monitoring Analytics 2014 www.monitoringanalytics.com This page intentionally
More informationWholesale Capacity and Energy Price Suppression Benefits of Efficiency & Distributed Generation
Wholesale Capacity and Energy Price Suppression Benefits of Efficiency & Distributed Generation NESEA Building Energy 14 Conference March 6, 2014 Rick Hornby www.synapse-energy.com 2014 Synapse Energy
More informationEstimating the Economically Optimal Reserve Margin in ERCOT
Estimating the Economically Optimal Reserve Margin in ERCOT January 31, 2014 PREPARED FOR The Public Utility Commission of Texas PREPARED BY Samuel A. Newell Kathleen Spees Johannes P. Pfeifenberger Ioanna
More informationAPRIL 23, Capacity Value of Wind Assumptions and Planning Reserve Margin
APRIL 23, 2014 Capacity Value of Wind Assumptions and Planning Reserve Margin Executive Summary Effective Load Carrying Capacity (ELCC), or capacity value, of variable generation and required planning
More informationThe Economic Potential for Energy Storage in Nevada
The Economic Potential for Energy Storage in Nevada PRESENTED TO Nevada Governor s Office of Energy Public Utilities Commission of Nevada PRESENTED BY Ryan Hledik Roger Lueken Judy Chang Johannes Pfeifenberger
More informationMARKET ANALYSIS, ASSET VALUATION AND ENTRY/EXIT DECISIONS
Bruce Phillips works with clients in the electric and natural gas industries to develop, analyze, and implement strategies to improve their economic performance. He applies expertise in competitive market
More informationThe Economics of Capacity Payment Mechanisms in Restructured Electricity Markets
The Economics of Capacity Payment Mechanisms in Restructured Electricity Markets David P. Brown University of Alberta, Department of Economics Institute for Public Economics Capacity Market Design 1 /
More informationSingle Schedule Market Pricing Issues
Single Schedule Market Pricing Issues Presented by Scott Harvey and Susan Pope Phase 1 - Session 3 Module G: Market Power Mitigation June 29, 2017 Toronto, Ontario TOPICS June 2: Module A: Energy Pricing
More informationPEAK DEMAND REDUCTION STRATEGY
ADVANCED ANERGY DVANCED E ECONOMY NERGY E ECONOMY the business voice of advanced energy PEAK DEMAND REDUCTION STRATEGY Prepared by Navigant Consulting Brett Feldman, Senior Research Analyst Matthew Tanner,
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 informationReliability and Economics: Separate Realities?
Reliability and Economics: Separate Realities? James F. Wilson Principal, Wilson Energy Economics Harvard Electricity Policy Group Sixty-Fifth Plenary Session Dallas, Texas December 1-2, 2011 1 Reliability
More informationDemand Response Working Group
Demand Response Working Group IESO Response to Stakeholder Feedback March 29, 2016 Topic 1: DR Auction Elements Comment 1 (City of Toronto) The City recommends that the IESO consider the opportunity for
More informationEvaluation of the New York Capacity Market
Evaluation of the New York Capacity Market Prepared by Scott M. Harvey William W. Hogan Susan L. Pope March 5, 2013 i Executive Summary There are no critical flaws in the design of the New York ISO capacity
More informationTransmission Planning Strategies to Accommodate Renewables
Transmission Planning Strategies to Accommodate Renewables P R E S E N T E D A T : EUCI Austin Renewable Energy Grid Operations P R E P A R E D B Y : J. Michael Hagerty Johannes Pfeifenberger Judy Chang
More informationModelling Enhancements for CAISO Transmission Planning
Modelling Enhancements for CAISO Transmission Planning The Feasibility and Value of Incorporating Intertie Scheduling Constraints into CAISO s Planning Model P R E P A R E D F O R LS Power P R E P A R
More informationAnalysis of the 2020/2021 RPM Base Residual Auction
Analysis of the 2020/2021 RPM Base Residual Auction The Independent Market Monitor for PJM November 17, 2017 Monitoring Analytics 2017 www.monitoringanalytics.com Introduction This report, prepared by
More informationReliability Analysis using PLEXOS
Reliability Analysis using PLEXOS Published by: Randell Johnson Energy Exemplar LLC, East Coast USA Office. 1 P a g e Introduction The PLEXOS simulator is a powerful tool for performing reliability studies
More informationDesign Considerations for an Alberta Capacity Market
Design Considerations for an Alberta Capacity Market Monitoring Analytics September 21, 2016 Monitoring Analytics 2016 www.monitoringanalytics.com This page intentionally left blank. Monitoring Analytics
More informationA Competitive Markets Design to Achieve New England s Energy Decarbonization Goals
A Competitive Markets Design to Achieve New England s Energy Decarbonization Goals Robert Stoddard Senior Consultant Charles River Associates Jerry Elmer Senior Attorney Conservation Law Foundation September
More informationThe Clean Power Plan
The Clean Power Plan Implications for the Western Interconnect PRESENTED TO Optimizing Carbon Market Mechanisms in the Western Interconnect PREPARED BY Michael Hagerty Marc Chupka Judy Chang January 20,
More informationOverview. IEEE Boston Chapter ISO New England Inc.
Overview New England s power system will undergo major changes in the coming years to integrate renewables, demand response, smart grid and other new technologies Good planning helps overcome integration
More informationModelling Enhancements for CAISO Transmission Planning
Modelling Enhancements for CAISO Transmission Planning The Feasibility and Value of Incorporating Intertie Scheduling Constraints into CAISO s Planning Model PREPARED FOR LS Power PREPARED BY Judy Chang
More informationWASHINGTON October 4, 2010
CAMBRIDGE SAN FRANCISCO WASHINGTON October 4, 2010 BRUSSELS Kimberly D. Bose Secretary, Federal Energy Regulatory Commission 888 First Street, NE Washington, DC 20426 LONDON MADRID Re: Docket No. RM10-17-000
More informationDiscussion Paper: Alberta Capacity Market Resource Adequacy
Discussion Paper: Alberta Capacity Market Resource Adequacy Background This document is part of Alberta Energy s stakeholder engagement on the resource adequacy standard as a factor in the reliability
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 informationModeling, Simulation, and Computational Needs for RTOs: A PJM Perspective
Engineering Conferences International ECI Digital Archives Modeling, Simulation, And Optimization for the 21st Century Electric Power Grid Proceedings Fall 10-22-2012 Modeling, Simulation, and Computational
More information