NYISO ICAP Capacity Market Description
The New York Installed Capacity (ICAP) market serves to maintain reliability of the bulk power system by procuring sufficient resource capability to meet expected maximum energy needs plus an Installed Reserve Margin (IRM).
NYISO capacity auctions are conducted on a seasonal and monthly basis, with seasonal auctions for the summer capability period (May through October) and winter capability period (November through April). Monthly auctions provide additional opportunities for capacity purchases and sales. Lastly, the NYISO’s monthly “Spot auctions” ensure that all capacity procurement obligations are adequately secured.
Here is a calendar of upcoming ICAP auctions for the NYISO capacity market.
ICAP Auction |
Offer / Bid Period Opens |
Offer / Bid Period Closes |
Auction Results Posted |
| February Spot Market Auction | 1/26/2026 | 1/27/2026 | 1/29/2026 |
| March Spot Market Auction | 2/23/2026 | 2/25/2026 | 2/27/2026 |
| April Spot Market Auction | 3/25/2026 | 3/26/2026 | 3/30/2026 |
| Summer Strip Auction | 3/27/2026 | 3/30/2026 | 4/01/2026 |
| May Spot Market Auction | 4/24/2026 | 4/27/2026 | 4/29/2026 |
| June Spot Market Auction | TBD | TBD | TBD |
Updated January 20, 2026.
Note that the 2025/26 NYISO Winter Period ends at 11:59PM on Thursday, April 30th, 2026 and the NYISO Summer Period begins at midnight on Friday, May 1st, 2026.
ESAI Power is providing this information to assist you in understanding the schedules for different ISO/RTO Energy Auctions. Note that ESAI Power urges all market participants to check all market rules and ensure that you are complying with all requirements for each ISO/RTO.
More Information
- To confirm dates for NYISO Auctions – please consult the NYISO ICAP calendar website here:
http://icap.nyiso.com/ucap/public/evt_calendar_display.do - Full details in the NYISO ICAP can be found here:
https://www.nyiso.com/installed-capacity-market
About ESAI Power
ESAI Power is a market research and consulting firm that delivers focused analysis of the wholesale power markets: PJM, NYISO, ISO-NE & MISO. Since 2003, ESAI has been providing market-focused research product content and custom consulting services for power market participants including private equity and infrastructure investors, lenders, IPPs, traders, developers, utilities & retail electricity suppliers, regulators, and ISOs/RTOs.