2019/20 Capacity Prices in New England Fall

ISO New England's 2019/20 Forward Capacity Auction resulted in a clearing price of $7.03/kW-month for the Rest of Pool and Southeastern New England zones.

This compares to a Rest of Pool price of $9.55/kW-month from the 2018/19 auction, where certain SEMA/RI resources received administrative prices of $17.73/kW-month or $11.08/kW-month

For the 2019/20 FCA, imports from Quebec over Phase II and Highgate also cleared at $7.03/kW-month.

New York imports (1,044 MW) cleared at $6.26/kW-month and New Brunswick imports (181 MW) cleared at $4.00/kW-month

About 35,567 MW of capacity cleared the auction to meet the 34,151 MW Installed Capacity Requirement for 2019-2020.

This included:

• 31,371 MW of generation

• 2,746 MW of demand-side resources, including 371 MW that is new

• 1,450 MW of imports from New York and Canada

ISO-NE said that at $7.03/kW-month, the total value of the capacity market in 2019-2020 will be approximately $3 billion, compared to the estimated $4 billion for 2018-2019.