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February 12, 2014
In yet another order which undermines the notion of competitive markets, FERC has granted PJM a waiver, on a prospective basis, to allow offers in excess of $1,000/MWh to set the locational marginal price.
February 10, 2014
Simulations run by The Brattle Group and Astrape Consulting, "show that energy-only markets can attract the optimal level of generation investments from a societal-cost perspective," Brattle and Astrape said in a report to FERC.
February 10, 2014
Exelon's strategy to match load to generation, "really has played out well" during the extreme January weather, executives said during a Thursday earnings call, in a perfect example of how capacity markets provide asset-owning retail suppliers with an unfair competitive advantage.
February 7, 2014
"It is clear that Exelon and other competitive generators are not fairly compensated for their reliable generation," in PJM, Exelon CEO Christopher Crane said during an earnings call yesterday.
February 6, 2014
Given the recent results of the Brattle economically optimal reserve margin study, Texas Public Utility Commissioner Kenneth Anderson has recommended that the Commission study the appropriate reliability standard (1-in-10 year loss of load event or alternative) prior to instituting a comparison of…
February 5, 2014
ISO New England's capacity auction to procure capacity to meet a mandated reserve margin resulted in a shortfall of resources for the 2017–2018 year, the ISO said.
February 3, 2014
Despite the ostensible obligations placed on capacity suppliers, FERC unsurprisingly granted the New York ISO's petition to grant make-whole payments to generators with costs in excess of $1,000/MWh.
February 3, 2014
"[T]he current energy-only market design will sustain a reserve margin of approximately 11.5%, which is 1.3 percentage points above the risk-neutral, economically optimum level of approximately 10.2%," The Brattle Group said in a report on the economically optimal reserve margin prepared for the…
January 31, 2014
FERC accepted as filed by PJM tariff revisions for the capacity market which will now limit the amount of certain demand response resources which are procured.
January 31, 2014
A coalition of industrial customers and consumer advocates said that granting PJM's requested waiver to allow offers in excess of $1,000/MWh to set the market-clearing LMP would compel customers to reward generators which failed to prudently hedge their variable costs of producing generation once…
January 31, 2014
Washington Gas Energy Services, Inc. has asked FERC to deny a waiver requested by PJM to allow it to accept offers in excess of $1,000/MWh and for such offers to set the market-clearing LMP.
January 30, 2014
Retail suppliers protested the New York ISO's sought waiver to provide make-whole payments in excess of $1,000/MWh to generators, not because the payments are unwarranted, but because the retail suppliers said that the costs should instead be reflected in market-clearing prices.
January 29, 2014
FERC has denied the New York ISO's sought phase-in of the new G-J local capacity zone (Lower Hudson Valley zone).
January 29, 2014
NextEra Energy Power Marketing, LLC (NEPM) has slammed PJM's "on the fly" request to allow offers in excess of the $1,000/MWh cap to set the market-clearing price, as granting PJM's request would mean that customers would, "pay billions for capacity and pay unlimited energy prices whenever energy…
January 29, 2014
NRG Power Marketing LLC and several affiliates have asked FERC to, "require NYISO [New York ISO] to submit tariff revisions to permanently eliminate the $1,000/MWh bid cap."
January 27, 2014
PJM has requested that FERC allow it to not only accept offers in excess of the current $1,000/MWh bid cap applicable to energy, but to allow such offers to set the clearing price.
January 24, 2014
According to ISO-New England, about 75 percent of the region's natural gas electrical generation capability was not running Thursday, presumably due to limited gas supply and/or high prices, Public Service Company of New Hampshire said in a news release yesterday.
January 23, 2014
Texas Agriculture Commissioner Todd Staples, Republican candidate for Lieutenant Governor, has asked the Public Utility Commission of Texas to reject, "a traditional 'capacity market' system," for the following reasons:
January 23, 2014
"PJM's capacity auctions, which are intended to provide support for competitive generators, do not, and instead have delivered unpredictable and inadequate results," FirstEnergy Corp. CEO Anthony Alexander said during an investor call yesterday.
January 23, 2014
Public Utility Commission of Texas Chair Donna Nelson has proposed retaining Brattle to conduct an "apples to apples" comparison of costs for various resource adequacy policy options before the Commission.
January 23, 2014
The New York ISO has sought FERC approval for a temporary waiver to allow it to accept offers in excess of the $1,000/MWh price cap.
January 23, 2014
ERCOT yesterday posted a preliminary load forecast using a preliminarily revised methodology, and if the new forecast peak loads are inputted into the May 2013 Capacity, Demand and Reserves report, ERCOT is forecast to have a reserve margin in excess of 16% until 2019.
January 21, 2014
"[R]eliability in New England is deteriorating as a result," of the "failure" of the current capacity market to reflect some of the most basic principles of a market -- higher-valued, higher quality goods should receive greater compensation than goods offering poor quality and poor service, ISO New…
January 21, 2014
In our related story today (click here) , Matters noted that unplanned outages in ISO New England have doubled since the introduction of a forward capacity market, and we reported some of the reasons given to the ISO for failure to perform.
January 21, 2014
"The overall rate of unplanned outages across the entire New England generating fleet has more than doubled since 2007," ISO New England said in a filing at FERC.
