The NYISO Summer Capability Period will begin on May 1st, with the following auction schedule:

  • Wednesday, March 27th – The NYISO ICAP Summer 2024 Strip Auction Bid Period Opens.
  • Thursday, March 28th – The Summer Strip Auction Bid Period closes.
  • Monday, April 1st – Results of the auction are posted.
  • Tuesday, April 9th – First monthly auction for Summer 2024.
  • April 24th – 25th – May Spot Market Auction.
  • April 29th – May Spot Market Auction results are posted.

ESAI’s Capacity Watch update to clients discusses the key auction parameters, changes in supply since Summer 2023/24, and ESAI’s forecast for the Summer period.  ESAI’s NYISO Capacity Watch update includes predicted Summer 2024 Clearing prices for NYCA, Zone J, Zone K, and the G-J Locality.

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ESAI Power continuously monitors and conducts analysis of the Capacity Markets in New York, New England, PJM & MISO. Capacity market projections incorporate detailed assessments of all market drivers including load projections, demand curve parameters, new capacity and retirements, and transmission constraints that impact locational delivery and pricing. Coverage includes full pre- and post-Capacity Auction forecasts for NY ICAP Summer Strip and Winter Strip auctions, for each PJM Base Residual Auction, ISO-NE Forward Capacity Auction, and MISO Planning Resource Auction.

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Capacity WatchTM provides quarterly analysis of capacity markets and policy issues that impact capacity price outcomes over a 10-year forecast horizon. Also provided is an evaluation of the outlook for the construction of each generation project in PJM, NYISO, ISO-NE and MISO. Every project is assigned a “probability of completion” factor in percentage terms which is then applied to develop a forward assessment of likely capacity additions within a particular pool. The impacts of new generation and retirements on reserve margin surpluses and forward capacity market values is updated and presented in each issue. ESAI’s project database (Generation Asset MonitorTM) is updated and presented with each issue.

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