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Carissa P. Sedlacek

Carissa P. Sedlacek. Manager, resource analysis and integration. Reliability Committee Meeting. Forward Capacity Auction #7 (FCA #7) Results Summary. March 19, 2013 | Westborough, ma. Highlights .

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Carissa P. Sedlacek

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  1. Carissa P. Sedlacek Manager, resource analysis and integration Reliability Committee Meeting Forward Capacity Auction #7 (FCA #7) Results Summary March 19, 2013| Westborough, ma

  2. Highlights • The seventh Forward Capacity Auction (FCA #7) was held February 4-5, 2013 and successfully procured resources to satisfy the region’s Installed Capacity Requirement (ICR) for the 2016/2017 Capacity Commitment Period (CCP) • Approximately 38,573 MW of qualified resources competed to provide the needed 32,968 MW of capacity (Net ICR) • The NEMA/Boston Capacity Zone cleared at $14.999/kW-month for new resources (721 MW) and $6.661/kW-month for existing resources (2,537 MW) due to insufficient competition • Less Active Demand Response resources cleared in FCA #7 than previous FCAs • A total of 268 de-list bids (approximately 1,560 MW) were reviewed and all were accepted • The ISO filed results of FCA #7 with FERC on February 26, 2013

  3. FCA #7 Overview • There were seven rounds in which Participants could submit bids and offers • Starting price was $15.000/kW-mo • Ending price was $3.15/kW-mo • Cleared MW will receive a prorated payment of $3.129/kW-mo unless they elect to prorate their MW obligation • Proration was completed on February 25 and all resources that elected proration were allowed to prorate • No proration was allowed in the NEMA/Boston Capacity Zone • CT resources will receive a prorated price of $2.883/kW-month • Resources in the ME and ROP capacity zones will receive a prorated price of $2.744/kW-month • FCA #7 results FERC Filing made on February 26 is available at:   http://www.iso-ne.com/regulatory/ferc/filings/2013/feb/index.html

  4. FCA #7 Details • The Installed Capacity Requirement was 34,023 MW • After accounting for 1,055 MW of Hydro Quebec Interconnection Capability Credits, 32,968 MW remained to be procured • Local Sourcing Requirement for NEMA/Boston was 3,209 MW and CT was 7,603 MW, respectively. The Maximum Capacity Limit for the ME export-constrained zone was 3,709 MW • Approximately 38,573 MW of resources qualified to participate in FCA #7 • Qualified Existing Resources (35,117 MW) • 31,585 MW of Generating Capacity, including Intermittent* • 112 MW of Import Capacity • 3,419 MW of Demand Resources • Qualified New Resources (3,456 MW) • New Generating Capacity Resources (878 MW) • New Demand Resources (255 MW) • New Import Resources (2,323 MW) * Includes new RTEG and Significant Increase which receives existing treatment in the auction

  5. FCA #7 Details, cont. • Approximately 36,220 MW (uncapped by Maximum Capacity Limit (MCL) and Real-Time Emergency Generation (RTEG)) remained at the floor price • Existing Resources (33,457 MW)* • 30,594 MW of Existing Supply Resources • 30,841 MW of Generating Capacity, including Intermittent* • 112 MW of Import Capacity • 2,503 MW of Existing Demand Resources • New Resources (2,763 MW) • New Supply Resources (2,518 MW) • 800 MW Generating Capacity • 1,718 MW of Import Capacity** • New Demand Resources (245 MW) • There was no need to “cap” the amount of RTEG that cleared the auction because only 262 MW cleared * Accounts for Non-Price Retirements . Also includes Significant Increase projects and new RTEG that receives existing treatment ** Capped by Interface Limits

  6. New Capacity Resources by State Demand Resources* 245 MW** Generation 800 MW * Includes 8% T&D Gross-up and new RTEG ** Sums may not add due to rounding

  7. New Demand Resources by Type 245 MW Total Includes approximately 243 MW of New Energy Efficiency Projects

  8. New Generation by Type800 MWs Total

  9. Trends in New Capacity Resources

  10. Cleared Real-Time Demand Response

  11. Cleared Real-Time Emergency Generation

  12. FCA #7 De-list Bid Details • A total of 268 de-list bids (approximately 1,560 MW) were reviewed from resources in all six New England states • Static De-List Bids were submitted prior to the auction, at prices greater than 0.8 X Cost of New Entry (CONE), from five resources (approximately 13 MW) and all were accepted • Additional Static De-List Bids were submitted by the ISO at 2*CONE on behalf of the Participant due to the inability to qualify winter MW (“low winter flag”) • Submitted for 62 resources (approximately 246 MW) and all cleared • There were 201 Dynamic De-List Bids (approximately 1,301 MW) were submitted during the auction at prices less than 0.8 X CONE (or below $4.844/kW-mo), all were accepted • There was one administrative export de-list bid (100 MW)

  13. Approved De-list Bids by State 1,660 MW Total* (44 MW) (77 MW) (89 MW) (703 MW) (146 MW) (601 MW) *Includes Static, Dynamic, and Administrative Export de-list bids

  14. Approved De-list Bids by Resource Type 1,660 MW Total* (100 MW) (107 MW) (226 MW) (744 MW) (483 MW) *Includes Static, Dynamic, and Administrative Export de-list bids

  15. Trends in De-list Bids Submitted 1,191 MW Rejected 581 MW Rejected 79 MW Rejected 604 MW Rejected 0 MW Rejected 330 MW Rejected 0 MW Rejected Note: Current status of de-list bids retained for reliability is available at: http://www.iso-ne.com/markets/othrmkts_data/fcm/doc/index.html

  16. Reliability Committee Meeting Forward Capacity Auction #7 Results Summary – Appendix March 19, 2013| Westborough, ma

  17. Summary of Auction Rounds withExcess Supply and Price Changes 1Capped by Import Interface Limits and MCL

  18. System-wide Results of FCA #7 Price at end of auction: $3.150/kW-Mo (Floor price) *NEMA/BSTN: $14.999/kW –Mo (New) Effective Payment Rate ($/kW-Mo): ROP/Maine: $2.744/kW- Mo CT: $2.883 /kW- Mo NEMA/BSTN: $14.999 /kW- Mo (New) Price at beginning of auction: $15.00/kW-Mo Need in 2016 (NICR):32,968 MW Resources Capped by RTEG N/A Qualified Resources Entering the Auction: 38,573 MW Resources cleared (uncapped) : 36,220 MW Excess Capacity: N/A (Total cleared minus net ICR capped by RTEG) MW from existing resources requestingto de-list 1,660 MW Rejected: 0 MW Approved: 1,660 MW Generating Resources: 31,641 MW Demand Resources: 2,748 MW Import Resources: 1,830 MW New Resources: 3,456MW Existing Resources: 35,117 MW Demand: 0 MW Demand: 916 MW Existing: 30,841 MW Existing: 2,503 MW Existing: 112 MW Generating: 0 MW Generating: 744 MW Demand: 255MW Demand: 3,419 MW Import: 0 MW Import: 0 MW New: 1,718 MW New: 800 MW New: 245 MW Generating: 31,585MW Generating: 878 MW *Insufficient Competition Triggered Existing Resources payment rate = $6.66/kW Mo Imports: 112 MW Imports: 2,323 MW

  19. Maine Results FCA #7 Qualified Resources Entering the Auction: 4,104 MW Resources cleared (uncapped) in the auction at auction end: 3,950 MW MW from existing resources requestingto de-list 146 MW New Resources: 334 MW Existing Resources: 3,771MW Generating Resources: 3,188 MW Demand Resources: 454 MW Import Resources: 308 MW Rejected: 0 MW Approved: 146 MW Existing: 3,188 MW Existing: 437 MW Existing: 0 MW Demand: 26 MW Demand: 500 MW Demand: 0 MW Demand: 63 MW Generating: 3,271 MW Generating: 0 MW New: 308 MW New: 0 MW New: 17 MW Generating: 0 MW Generating: 83MW Imports: 0 Imports: 308 Import: 0 MW Import: 0 MW

  20. NEMASS/Boston Results FCA #7 Qualified Resources Entering the Auction: 3,754 MW Resources cleared (uncapped) in the auction at auction end: 3,716 MW MW from existing resources requestingto de-list 38 MW New Resources: 721 MW Existing Resources: 3,033MW Generating Resources: 3,211 MW Demand Resources: 505 MW Import Resources: 0 MW Rejected: 0 MW Approved: 38MW Existing: 2,537 MW Existing: 458 MW Existing: 0 MW Demand: 47 MW Demand: 476 MW Demand: 0 MW Demand: 17 MW Generating: 2,557 MW Generating: 674 MW New: 0 MW New: 674 MW New: 47 MW Generating: 0 MW Generating: 21 MW Imports: N/A Imports: N/A Import: 0 MW Import: MW

  21. Connecticut Results FCA #7 Qualified Resources Entering the Auction: 9,082 MW Resources cleared (uncapped) in the auction at auction end: 8,371MW MW from existing resources requestingto de-list 703 MW New Resources: 70 MW Existing Resources: 9,012 MW Generating Resources: 7,694 MW Demand Resources: 677 MW Import Resources: 0 MW Rejected: 0 MW Approved: 703 MW Existing: 7,694 MW Existing: 614 MW Existing: 0 MW Demand: 63MW Demand: 970 MW Demand: 0 MW Demand: 355 MW Generating: 8,042 MW Generating: 7 MW New: 0 MW New: 0 MW New: 63 MW Generating: 0 MW Generating: 348 MW Imports: 0 Imports: 0 Import: 0 MW Import: MW

  22. Rest of Pool Results FCA #7 Qualified Resources Entering the Auction: 21,633MW Resources cleared (uncapped) in the auction at auction end: 20,182 MW MW from existing resources requestingto de-list 773 MW New Resources: 2,332 MW Existing Resources: 19,301 MW Generating Resources: 17,548 MW Demand Resources: 1,112 MW Import Resources: 1,522 MW Rejected: 0 MW Approved: 773 MW Existing: 17,422 MW Existing: 994 MW Existing: 112 MW Demand: 119 MW Demand: 1,474 MW Demand: 0 MW Demand: 481 MW Generating: 17,714 MW Generating: 197 MW New: 1,410 MW New: 126 MW New: 118 MW Generating: 0 MW Generating: 292 MW Imports: 112 Imports: 2,015 Import: 0 MW Import: 0 MW

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