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FERC To Hold Technical Conference On MISO Capacity Auction Mitigation Measures, Alternatives

October 5, 2015

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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

FERC will hold a technical conference on October 20 concerning market power mitigation in the Midcontinent ISO capacity market, and related market design issues

The technical conference comes after FERC disclosed, as reported by EnergyChoiceMatters.com, that it has been conducting an investigation of Zone 4 pricing in the most recent MISO capacity auction. The technical conference will not address this investigatory proceeding

FERC said that technical conference panelists should be prepared to discuss possible alternatives to the current market power mitigation procedures and calculations in the MISO capacity market. Panelists should also be prepared to answer questions including, but not limited to, the following: How should opportunity cost underlying reference levels consider physical or economic limitations of capacity sales? Should individual reference levels be developed for market participants that are pivotal suppliers in the capacity market? If so, how should they be determined? What are alternatives to PJM replacement capacity sales for determining the opportunity costs used to establish mitigation reference levels?

Panelists should be prepared to describe the calculations of Auction parameters such as Local Reliability Requirements, Capacity Import Limits, Capacity Export Limits, and Local Clearing Requirements, and to answer questions including, but not limited to, the following: What was the rationale behind the methodological change to examine constraints below 200 kV in the calculation of Capacity Import Limits and Capacity Export Limits? How does MISO’s calculation of zonal Capacity Import Limits and Capacity Export Limits reflect counter-flows from or into neighboring regions?

Panelists should be prepared to discuss the current zonal boundaries in MISO and the criteria used to establish zonal configuration. Panelists should also be prepared to answer questions including, but not limited to, the following: Have the six criteria in the Tariff established a zonal configuration that reflects the physical constraints on the MISO transmission system? If there is little or no congestion between adjacent zones, what are the reasons for and against combining the zones? What changes to the criteria and/or zonal configuration are currently being considered by MISO?

Panelists should also be prepared to answer questions including, but not limited to, the following: For the 2014/15 and 2015/16 delivery years, how much PJM replacement capacity was procured after PJM’s third incremental auction, and of that, how much was from MISO resources, and for what prices and durations were these MISO resources contracted? How much total transmission capability was available between MISO and PJM during the 2014/15 and 2015/16 MISO and PJM delivery years, and how much of that transmission capacity was subscribed as of the PJM third Incremental Auction for each delivery year? How much total transmission capability is expected between MISO and PJM for the 2016/17 and 2017/18 delivery years, and how much of that transmission capability is already subscribed?

Panelists should be prepared to answer questions including, but not limited to, the following: What changes to the Tariff, including those not discussed in the first three sessions, might be necessary to ensure just and reasonable outcomes going forward, and, of these changes, which can be implemented for the 2016/17 Auction?

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