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June 4-5, 2013 | Westborough, ma

June 4-5, 2013 | Westborough, ma. Andrew Gillespie. Market development agillespie@iso-ne.com (413) 535-4088. Proposal. FCM Shortage Event Trigger. System-Wide Shortage Event Trigger.

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June 4-5, 2013 | Westborough, ma

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  1. June 4-5, 2013 | Westborough, ma Andrew Gillespie Market developmentagillespie@iso-ne.com (413) 535-4088 Proposal FCM Shortage Event Trigger

  2. System-Wide Shortage Event Trigger • The current system-wide shortage event trigger is thirty or more minutes of Reserve Constraint Penalty Factor (RCPF) pricing (system TMNSR RCPF = $850/MWh) • The decision to use this RCPF (versus TMOR RCPF) beginning in June 2010 was based on the numerous shortage events that would have otherwise been triggered using the then TMOR RCPF of $100/MWh • Using this TMOR RCPF would have triggered many Shortage Events that were not then truly indicative of a shortage condition • The TMOR RCPF was changed to $500/MWh June 1, 2012

  3. System-Wide Shortage Event Trigger: Proposal A shortage event in any zone would be either: • Thirty or more contiguous minutes of system-wide TMNSR Reserve Constraint Penalty Factor activation/pricing ($850/MWh) – current trigger or,new additional trigger • Thirty or more contiguous minutes of system-wide TMOR Reserve Constraint Penalty Factor activation/pricing ($500/MWh) when Action2 under Operating Procedure No. 4 has also been implemented NOTE: A Shortage Event would NOT be triggered due to a shortage of replacement reserves

  4. Zone Triggers: Current Tariff Provisions (b) In an import-constrained Capacity Zone, as determined pursuant to Section III.13.2.3.4, a Shortage Event shall also be any OP4 Action 6, OP4 Action 12, OP4 Action 13, or OP7 event, or their successor operating procedures, that is declared based on adequacy and not security, as defined in the ISO New England Manuals, with a duration of thirty or more contiguous minutes, and that is not also declared outside of the Capacity Zone. (c) An export-constrained Capacity Zone, as determined pursuant to Section III.13.2.3.4, shall be exempt from a Shortage Event if an OP4 Action 6, OP4 Action 11, OP4 Action 12, OP4 Action 13, or OP7 event has been declared for the Rest-of-Pool Capacity Zone but not for that export-constrained Capacity Zone. Market Rule 1: Section III.13.7.1.1.1 Definition of Shortage Events

  5. Zonal Shortage Event Trigger: Proposal • Clarify the import-constrained zone Shortage Event trigger • Implementing specific actions of OP-4 or an OP-7 event in an import-constrained zone, for a duration of thirty or more contiguous minutes, will constitute a Shortage Event in the zone, provided the action (OP-4 or OP-7) is for the entire capacity zone • Implementing OP-4 or OP-7 in only a sub-area of the zone will not constitute a Shortage Event • Clarify/clean-up zone provisions (both import- and export-constrained zones) • Treatment is meant to apply to the zone when specific actions or event are taken when the adjacent zone is not is the same condition

  6. ISO-NE Operating Procedure No. 4 Action During A Capacity Deficiency

  7. Operating Procedure No. 4 – Actions (Link to (OP 4) Operating Procedure No.4)

  8. scenarios

  9. Example: System Event on January 28, 2013 OP-4; Actions 1 & 2 implemented at 17:30- cancelled at 21:30 Shortage Event 17:30 to 18:15

  10. Some Possible System/Zone Scenarios ROP – Rest-of-Pool When the system requirement for 30 minute reserves is not met, the TMOR price will be set by the TMOR Reserve Constraint Penalty Factor (RCPF), which is currently $500/MWh.

  11. Schedule

  12. Schedule • 1st Markets Committee meeting November 2012 • 2nd Markets Committee meeting December 2012 • 3rd Markets Committee meeting April 2013 • 4th Markets Committee meeting May 2013 • 5th Markets Committee meeting (vote) June 2013 • Participants Committee meeting August 2013 • File August 2013 • Effective Date October 2013

  13. Andrew Gillespieagillespie@iso-ne.com

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