Top ESAI Power Blog Posts for 2023
It has been a banner year for the wholesale power markets and our top five blog posts reflect that with heavy concentration of capacity and renewable energy updates, including NYISO, MISO and coverage of the FERC PJM queue reform and our coverage of the updated the PJM Interconnection process.
Read on below for the full top 5 list of ESAI Power blogs from 2023.
1. NYISO Capacity Price Forecast | Capacity Watch Blog
July 3, 2023 | ESAI’s latest forecast for the NYISO Capacity Market reflects several recent market developments, including: 1) Updated Demand Curve Reference Point Price reflecting a recent FERC order approving use of a 17-year economic life assumption in the calculation of Gross and Net CONE values (the change will be applied starting with the July 2023 Spot Auction). 2) Reduced imports from PJM reflecting the retirement of the Homer City plant. 3) Updated estimates for Capacity Accreditation Factors and Reliability Requirements. 4) 2023 Gold Book Peak Load Forecast. Read more.
2. FERC Approved PJM Queue Reform Proposal | Renewables Watch Blog
February 2, 2023 | In our recent Renewables Watch Report, ESAI details both the new PJM Interconnection process, and discussed the potential implications of the changes outlined in this blog. At the end of last year, the Federal Energy Regulatory Commission (FERC) approved PJM’s June 2022 filing that proposed several changes to its process for studying New Service Requests from generators seeking Interconnection Service Agreements (ISAs) or Wholesale Market Participant Agreements (WMPAs). Read more.
3. MISO Capacity PRA 2023/24 Scheduled to Start April 18th | Capacity Watch Blog
March 28, 2023 | MISO has delayed their Capacity Auction PRA for 2023/24. The auction was set to begin on March 28th, and is now scheduled to open the offer window on April 18th at 8AM EPT for market participants. FERC had several concerns about the fairness of MISO’s calculations and requested proof that they are fair or, alternatively, to revise them. Specifically, FERC Commissioner Mark Christie concurred with an order that directed MISO to either: 1) Show cause that its UCAP Calculation/ISAC Ratio for the 2023/24 PRA is consistent with its Tariff. OR 2) Explain how MISO will revise the Ratio to account for the corrected ISAC Values. Read more.
4. NYISO Capacity Prices Volatile Heading into Winter 2023-24 | Capacity Watch Blog
October 9, 2023 | As the days grow shorter and temperatures drop, the New York State energy market gears up for another winter season. The New York Independent System Operator (NYISO) manages the state’s energy needs, ensuring a reliable power supply during the colder months. This blog post will delve into the critical details of the NYISO Installed Capacity Market for the Winter 2023/24 season, shedding light on auction schedules, clearing price volatility, and notable changes compared to the previous winter. Read more.
5. PJM Interconnection Process Update | Generation Asset Monitor Blog
July 24, 2023 | Earlier this month, PJM issued an update on its new process for studying New Service Requests from generators seeking Interconnection Service Agreements (ISAs) or Wholesale Market Participant Agreements (WMPAs).This new process was approved by the Federal Energy Regulatory Commission (FERC) on November 29, 2022, and was implemented to address the significant backlog of generation projects with queue positions awaiting ISAs or WMPAs. This backlog has been compounded in recent years due to a surge in renewable projects seeking ISAs. In fact, renewable projects currently comprise 94% of generation projects awaiting ISAs compared to 38% in 2017. Read more.
