Publications

MRP Week 8 Review: Peak Demand, Forecast Errors and Price Spikes

The summer peak demand season has arrived – and peak prices along with it. There were 20 real-time Ontario Zonal Price (OZP) spikes greater than $200/MWh, with the highest price hitting $1,229.23/MWh.

ISO-NE Summary

On June 24th, ISO-New England (ISO-NE) hit a peak load of 26,024 MW at 7pm, the highest load experienced since 2013. With load marginally higher than forecast and a spike in outages (primarily natural gas units), real-time locational marginal prices (LMPs) were over $1,000/MWh, over twice the day-ahead market (DAM) price.

MRP Week 7 Review: West Zone Congestion Goes Negative

The most notable change in the renewed market last week occurred in the West zone. In contrast to most weeks since the renewed market was launched, the West zone experienced high levels of negative congestion in the day-ahead market – even greater than in other typically congested zones such as the Northwest and Northeast.

Pennsylvania Net Metering Update – Utilities Angle for Hommrich Workaround

Net metering in Pennsylvania continues to be a trending topic with regulatory and legislative movement that could drastically change the current compensation for excess generation.

MRP Week 6 Review: DAM OR Price Spike and Ongoing Congestion in the Northwest and Northeast

MRP Week 5 Review: Extreme Negative Price in RT and Congestion in Niagara Zone

Power Advisory is moving forward with its weekly renewed market reviews based on feedback from a number of clients. The weekly timeframe has slightly adjusted and is now from Saturday to Sunday. This report adds a few days to cover a few days included in the transition from the previous weekly schedule to the new format (note that the old weekly schedule was based on MRP launching on a Thursday and went from Thursday to Wednesday).

MRP Week 4 Review: Energy Volatility Moderates While OR Prices Remain Elevated

The fourth full week of the post-Market Renewal Program (MRP) (“renewed market”) has passed. Overall, the magnitude of real-time price volatility was lower throughout the week, with fewer hours where prices moved significantly above the marginal cost of gas-fired generation. Overall, real-time pricing in the energy market over the past week was more aligned with historical pricing in the legacy market.

MRP Week 3 Review: Day-ahead Market Failure and Ongoing Price Volatility in Real-Time

The third full week of the post-Market Renewal Program (MRP) (“renewed market”) has passed. The real-time market continues to experience significantly more volatility than the Day-Ahead Market (DAM) in both the energy and Operating Reserve (OR) markets, while a number of nodes posted extremely volatile Locational Marginal Prices (LMPs) during the week, particularly in real-time.

MRP Week 2 Review: Volatility Sticks Around

The second full week of the post-Market Renewal Program (MRP) has passed and a number of trends from the first week remained in place.

MRP Market Review: Week 1

The IESO’s Market Renewal Program (MRP) has officially launched and completed its first week. According to the IESO’s MRP implementation plan, the full transition to MRP is now complete.