Results From ISO-NE Capacity Auction For 2022/23 Delivery Year Take Effect By Operation Of Law, After FERC Inaction

The results from the ISO New England capacity auction for the 2022/2023 Capacity Commitment (FCA 13) have taken effect by operation of law, after FERC did not render a decision on ISO-NE's results filing

Among other things, certain capacity suppliers had protested the results, which included a clearing price of $3.80/kW-month

Certain capacity suppliers had protested that, "Among the resources that cleared at this price and obtained a Capacity Supply Obligation (CSO) for the 2022/2023 Capacity Commitment Period (CCP) was a proposed natural gas combined cycle facility - the Killingly Energy Center (Killingly). The clearing of Killingly below $3.80/kW-month is atypical, particularly because the offer review trigger price (ORTP) for combined cycle units in FCA 13 was set at $8.19/kW-month."

In a notice, FERC stated, "On February 28, 2019, pursuant to section 205 of the Federal Power Act (FPA), ISO New England Inc. (ISO-NE) filed the results from the thirteenth Forward Capacity Auction to become effective on June 28, 2019 (FCA 13 Results Filing). On May 24, 2019, ISO-NE submitted supplemental information to the FCA 13 Results Filing. On June 6, 2019, and July 25, 2019, Commission staff issued letters to ISO-NE informing ISO-NE that its filing was deficient and seeking additional information. On June 28, 2019, and July 26, 2019, respectively, ISO-NE submitted its responses to those letters."

"Pursuant to section 205 of the FPA, in the absence of Commission action on or before September 24, 2019, the FCA 13 Results Filing, as amended, became effective by operation of law. Accordingly, the effective date of the FCA 13 Results Filing is June 28, 2019," FERC said in the notice

"The Commission did not act on ISO-NE’s filing because of a lack of quorum in this proceeding at this time. Consistent with section 205(g)(1)(B) of the FPA, any written statement explaining the views of a Commissioner with respect to ISO-NE’s filing will be added to the record of the Commission in the captioned proceeding," FERC said in the notice

Docket No. ER19-1166