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North American Electricity Markets

North American Electricity Markets. APEX Paris, France October 15-16, 2007 Kenneth Laughlin, PJM. North American Wholesale Electricity Markets. AESO. Peak Load 9661 MW, November 2006 Postage Stamp Transmission Pricing Some transmission congestion beginning to be experienced

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North American Electricity Markets

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  1. North American Electricity Markets APEX Paris, France October 15-16, 2007 Kenneth Laughlin, PJM

  2. North American Wholesale Electricity Markets

  3. AESO • Peak Load 9661 MW, November 2006 • Postage Stamp Transmission Pricing • Some transmission congestion beginning to be experienced • C$5 billion in new transmission upgrades by 2016 • Full Retail Access • Regulated Rate Option available to small consumers • Energy Only Market • No plans to implement capacity market • Separate market for ancillary services

  4. California ISO • Peak Load 50,270 MWs • Zonal energy market with redispatch to manage congestion within zones • Comprehensive market redesign in progress – expect to move to nodal pricing in March 2008 • Resource adequacy requirement on load serving entities to demonstrate 115% of load can be met; capacity markets under discussion, decision expected in 2008.

  5. ERCOT • Peak Load 62,339 MWs • 85% of Texas; Not subject to FERC other than reliability provisions of 2005 Energy Policy Act; 5 DC Ties • 38,000 miles of Transmission • Firm Transmission (PTP only) • 71,800+ MW of Generation • Centralized registry for 6 million retail choice customers • Nodal pricing in 2009 • Energy only

  6. ISO New England • Peak Load 28,000 MW • Implemented nodal pricing in 2003 • Implemented wholesale markets in 1999 • Locational Forward and real-time reserve markets • New forward capacity market auction in February 2008 for capacity in June 2010 • Major new transmission projects completed or under construction

  7. MISO RTO • Peak load 129,647 MWs set July 21, 2007 • Market opened 1 April 2005 • Full nodal real time and day-ahead energy markets • Territory encompasses fifteen states and one Canadian province • Simultaneously co-optimised energy & ancillary services markets under development • No capacity market envisioned

  8. NBSO • Peak Load 3,187 MW • Postage Stamp Transmission Pricing- no significant transmission constraints • Physical Bi-Lateral Market- Wholesale & Industrial Retail Participation- Resource Adequacy Requirement on Load Serving- Entities- Single Node Energy Imbalance Market • Demand Response Under Development

  9. New York ISO • Energy: Real-Time and Day-Ahead full nodal • Ancillary Services: RT and DA • Co-optimized with energy in both RT and DA • Spinning and non-spinning reserves with scarcity pricing • Regulation • Installed Capacity (ICAP) – locational markets • Transmission Congestion Contracts (TCCs) • Virtual trading for both supply and demand • Demand Side Resources may participate in the energy and capacity markets (ancillary services under development)

  10. Ontario Market Operator • Peak Load 27,000 MWs • 5 minute wholesale spot market, single market clearing price • Design of future Day-Ahead Market currently being discussed with stakeholders • Development of new generation underway via centralized contracting to allow the shutdown of all coal plants by 2014

  11. PJM • Peak load 145,000 MWs • Full nodal markets (real time and day-ahead) • Integrated five additional companies into market area between 2002 and 2006. • Implemented a locational capacity market in 2007 • August 2007 monthly billing > $ 4,000,000,000

  12. SPP • Peak Load 43,346 MW, August 2007 • Full nodal energy imbalance energy market operational in February 2007 • Transmission Services market • No retail open access in footprint

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