ISO-NE Forward Capacity Market Description
The Forward Capacity Market (FCM) ensures that the New England power system will have sufficient resources to meet the future demand for electricity. Forward Capacity Auctions (FCAs) are held annually, three years in advance of the operating period. Resources compete in the auctions to obtain a commitment to supply capacity in exchange for a market-priced capacity payment.
These payments help support the development of new resources. Capacity payments also help retain existing resources. For example, they incentivize investment in technology or practices that help ensure strong performance. They also serve as a stable revenue stream for resources that help meet peak demand but don’t run often the rest of the year. Here is a calendar of upcoming and past energy auctions for the ISO-NE capacity market.
Auction |
Pre-Auction FERC Informational filings are due |
Forward Capacity Auction (FCA) Start Date |
Capacity Commitment Period (CCP) Begin Date |
| FCA18 | 11/22/2023 | 2/5/2024 | 6/1/2027 |
| FCA19 | 11/5/2024 | 2/3/2025 | 6/1/2028 |
Updated September 12, 2023
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 ISO-NE FCA Auctions – please consult the ISO New England FCM schedule:
https://www.iso-ne.com/static-assets/documents/2022/02/fcm-schedule-01-26-2022.pdf - Full details on the schedule for FCA19 can be found here:
https://www.iso-ne.com/static-assets/documents/2022/02/fca-19-market-timeline-01-20-2022.pdf
About ESAI Power
ESAI Power is a market research and consulting firm that delivers focused analysis of the wholesale power markets in the Northeast region of the US: PJM, NYISO, and ISO-NE. Since 2001, ESAI has been providing market-focused research product content and custom consulting services for Northeast power market participants including investors (banks, private-equity, & hedge funds) & developers, generation owners & operators, utilities & retail electricity suppliers, regulators & RTOs, traders, and end-users & buyers.