carissa p. sedlacek
DESCRIPTION
Carissa P. Sedlacek. Manager, resource analysis and integration. Reliability Committee Meeting. Forward Capacity Auction #7 (FCA #7) Results Summary. March 19, 2013 | Westborough, ma. Highlights . - PowerPoint PPT PresentationTRANSCRIPT
Carissa P. SedlacekM A N A G E R , R E S O U R C E A N A L Y S I S A N D I N T E G R A T I O N
Reliability Committee Meeting
Forward Capacity Auction #7 (FCA #7) Results Summary
M A R C H 1 9 , 2 0 1 3 | W E S T B O R O U G H , M A
2
Highlights
• The seventh Forward Capacity Auction (FCA #7) was held February 4-5, 2013 and successfully procured resources to satisfy the region’s Installed Capacity Requirement (ICR) for the 2016/2017 Capacity Commitment Period (CCP)
• Approximately 38,573 MW of qualified resources competed to provide the needed 32,968 MW of capacity (Net ICR)
• The NEMA/Boston Capacity Zone cleared at $14.999/kW-month for new resources (721 MW) and $6.661/kW-month for existing resources (2,537 MW) due to insufficient competition
• Less Active Demand Response resources cleared in FCA #7 than previous FCAs
• A total of 268 de-list bids (approximately 1,560 MW) were reviewed and all were accepted
• The ISO filed results of FCA #7 with FERC on February 26, 2013
3
FCA #7 Overview
• There were seven rounds in which Participants could submit bids and offers
• Starting price was $15.000/kW-mo
• Ending price was $3.15/kW-mo
• Cleared MW will receive a prorated payment of $3.129/kW-mo unless they elect to prorate their MW obligation
• Proration was completed on February 25 and all resources that elected proration were allowed to prorate– No proration was allowed in the NEMA/Boston Capacity Zone– CT resources will receive a prorated price of $2.883/kW-month – Resources in the ME and ROP capacity zones will receive a prorated price of
$2.744/kW-month
• FCA #7 results FERC Filing made on February 26 is available at: http://www.iso-ne.com/regulatory/ferc/filings/2013/feb/index.html
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FCA #7 Details
• The Installed Capacity Requirement was 34,023 MW – After accounting for 1,055 MW of Hydro Quebec Interconnection Capability
Credits, 32,968 MW remained to be procured– Local Sourcing Requirement for NEMA/Boston was 3,209 MW and CT was 7,603
MW, respectively. The Maximum Capacity Limit for the ME export-constrained zone was 3,709 MW
• Approximately 38,573 MW of resources qualified to participate in FCA #7– Qualified Existing Resources (35,117 MW)
• 31,585 MW of Generating Capacity, including Intermittent*• 112 MW of Import Capacity• 3,419 MW of Demand Resources
– Qualified New Resources (3,456 MW)• New Generating Capacity Resources (878 MW)• New Demand Resources (255 MW)• New Import Resources (2,323 MW)
* Includes new RTEG and Significant Increase which receives existing treatment in the auction
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FCA #7 Details, cont.
• Approximately 36,220 MW (uncapped by Maximum Capacity Limit (MCL) and Real-Time Emergency Generation (RTEG)) remained at the floor price
• Existing Resources (33,457 MW)*– 30,594 MW of Existing Supply Resources
• 30,841 MW of Generating Capacity, including Intermittent*• 112 MW of Import Capacity
– 2,503 MW of Existing Demand Resources
• New Resources (2,763 MW)– New Supply Resources (2,518 MW)
• 800 MW Generating Capacity• 1,718 MW of Import Capacity**
– New Demand Resources (245 MW)
• There was no need to “cap” the amount of RTEG that cleared the auction because only 262 MW cleared
* Accounts for Non-Price Retirements . Also includes Significant Increase projects and new RTEG that receives existing treatment
** Capped by Interface Limits
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New Capacity Resources by State
Demand Resources*245 MW**
Generation800 MW
* Includes 8% T&D Gross-up and new RTEG** Sums may not add due to rounding
Connecticut26%
Massachusetts49%
Maine7%
New Hampshire4%
Rhode Island7%
Vermont7%
MA100 %
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New Demand Resources by Type 245 MW Total
Includes approximately 243 MW of New Energy Efficiency Projects
On Peak70.17%
Real-Time Demand Response
0.09%
Real-Time Emergency Generation
0.28%
Seasonal Peak29.46%
8
New Generation by Type800 MWs Total
Combined Cycle84%
Hydraulic Turbine6%
Photovoltaic0%
Wind Turbine9%
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Trends in New Capacity Resources
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Cleared Real-Time Demand Response
2012-13 2013-14 2014-15 2015-16 2016-170
200
400
600
800
1,000
1,200
1,400
1,600
1,1481,253
1,469 1,508
1,337
1,096 1,106
1,3401,319
854
FCA Qualified Capacity FCA Cleared Capacity
Meg
awatt
s
11
Cleared Real-Time Emergency Generation
2012-13 2013-14 2014-15 2015-16 2016-170
200
400
600
800
1,000
1,200
835
961915
837
488
630688
722
617
262
FCA Qualified Capacity FCA Cleared Capacity
Meg
awatt
s
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FCA #7 De-list Bid Details
• A total of 268 de-list bids (approximately 1,560 MW) were reviewed from resources in all six New England states– Static De-List Bids were submitted prior to the auction, at prices
greater than 0.8 X Cost of New Entry (CONE), from five resources (approximately 13 MW) and all were accepted
– Additional Static De-List Bids were submitted by the ISO at 2*CONE on behalf of the Participant due to the inability to qualify winter MW (“low winter flag”)• Submitted for 62 resources (approximately 246 MW) and all cleared
– There were 201 Dynamic De-List Bids (approximately 1,301 MW) were submitted during the auction at prices less than 0.8 X CONE (or below $4.844/kW-mo), all were accepted
• There was one administrative export de-list bid (100 MW)
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Approved De-list Bids by State1,660 MW Total*
*Includes Static, Dynamic, and Administrative Export de-list bids
CT42%
MA36%
ME9%
NH5%
RI5%
VT3%
(703 MW)
(44 MW)(77 MW)
(89 MW)
(146 MW)
(601 MW)
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GEN45%
RTDR29%
RTEG14%
On-Peak6%
Seasonal-Peak6%
Approved De-list Bids by Resource Type1,660 MW Total*
*Includes Static, Dynamic, and Administrative Export de-list bids
(100 MW)
(226 MW)
(744 MW)
(107 MW)
(483 MW)
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FCA #1 FCA #2 FCA #3 FCA #4 FCA #5 FCA #6 FCA #70
500
1,000
1,500
2,000
2,500
3,000
DR Generator Import
Megawatts
Trends in De-list Bids Submitted
79 MW Rejected604 MW
Rejected
1,191 MW Rejected581 MW
Rejected
0 MW Rejected
330 MW Rejected
Note: Current status of de-list bids retained for reliability is available at: http://www.iso-ne.com/markets/othrmkts_data/fcm/doc/index.html
0 MW Rejected
Reliability Committee Meeting
Forward Capacity Auction #7 Results Summary – Appendix
M A R C H 1 9 , 2 0 1 3 | W E S T B O R O U G H , M A
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Summary of Auction Rounds withExcess Supply and Price Changes
1Capped by Import Interface Limits and MCL
Round Start Price End Price Delta $ Excess Start1 Excess End1 Delta MW
1 15 9 6 4,502 4,430 72.26
2 9 7.5 1.5 4,430 4,430 0
3 7.5 6 1.5 4,430 4,321 109.4
4 6 4.844 1.156 4,321 4,221 99.92
5 4.844 4.541 0.303 4,221 3,128 1093
6 4.541 3.845 0.696 3,128 3,056 71.5
7 3.845 3.15 0.695 3,056 3,048 7.897
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System-wide Results of FCA #7Price at end of auction:
$3.150/kW-Mo(Floor price)
*NEMA/BSTN: $14.999/kW –Mo (New)
Resources Capped by RTEG
N/A
Need in 2016 (NICR):
32,968 MW
Effective Payment Rate ($/kW-Mo):
ROP/Maine: $2.744/kW- MoCT: $2.883 /kW- Mo
NEMA/BSTN: $14.999 /kW- Mo (New)
Price at beginning of auction:
$15.00/kW-Mo
New Resources:3,456MW
Existing Resources:35,117 MW
Demand: 255 MW
Generating:31,585MW
Imports:112 MW
Imports:2,323 MW
Demand:3,419 MW
Generating:878 MW
Excess Capacity:N/A
(Total cleared minus net ICR capped by
RTEG)
Qualified Resources Entering the Auction:
38,573 MWResources cleared
(uncapped) :36,220 MW
ROP 19,505 MWNEMA/BSTN 3,754 MWConnecticut 9,082 MWMaine 3,796 MWImport 2,435 MW
ROP 18,660 MW $2.744/kW-Mo*NEMA/BSTN 3,716MW $14.999/kW-MoConnecticut 8,372 MW $2.883/kW-MoMaine 3,642MW $2.744 /kW-MoImport 1,830MW $2.744/kW-Mo
Existing:30,841 MW
New:800 MW
On Peak 1,320 MWSeasonal Peak 312MWReal Time 854 MWReal Time EG 262 MW
Demand Resources:2,748 MW
Import: 0 MW
Demand: 916 MW
Generating: 744 MW
MW from existing resources requesting
to de-list 1,660 MW
Rejected:0 MW
Approved: 1,660 MW
Import: 0 MW
Demand: 0 MW
Generating: 0 MW
*Insufficient Competition Triggered Existing Resources payment rate = $6.66/kW Mo
Generating Resources:31,641 MW
Import Resources:1,830 MW
Existing:2,503 MW
Existing:112 MW
New:245 MW
New:1,718 MW
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Maine Results FCA #7
New Resources:
334 MW
Existing Resources:3,771MW
Demand: 26 MW
Generating:3,271 MW
Imports:0
Imports:308
Demand:500 MW
Generating:0 MW
Qualified Resources Entering the Auction:
4,104 MW
Resources cleared (uncapped) in the auction
at auction end:3,950 MW
Existing:3,188 MW
New:0 MW
On Peak 162 MWSeasonal Peak 0 MWReal Time 281 MWReal Time EG 12 MW
Demand Resources:
454 MW
Import: 0 MW
Demand: 63 MW
Generating: 83MW
MW from existing resources requesting
to de-list 146 MW
Rejected:0 MW
Approved: 146 MW
Import: 0 MW
Demand: 0 MW
Generating: 0 MW
Generating Resources:3,188 MW
Import Resources:
308 MW
Existing:437 MW
Existing:0 MW
New:17 MW
New:308 MW
Results at a GlanceNeed 3,709 MW Qualified 4,104 MW
Price @ Start $15.00/kW-Mo Price @ end $3.150/kW-Mo (floor)
Uncapped 3,950 MW RTEG Capped N/A
Excess 241 MW Payment Rate 2.744/kW-Mo
20
NEMASS/Boston Results FCA #7
New Resources:
721 MW
Existing Resources:3,033MW
Demand: 47 MW
Generating:2,557 MW
Imports:N/A
Imports:N/A
Demand:476 MW
Generating:674 MW
Qualified Resources Entering the Auction:
3,754 MW
Resources cleared (uncapped) in the auction
at auction end:3,716 MW
Existing:2,537 MW
New:674 MW
On Peak 355 MWSeasonal Peak 0 MWReal Time 122 MWReal Time EG 28 MW
Demand Resources:
505 MW
Import: MW
Demand: 17 MW
Generating: 21 MW
MW from existing resources requesting
to de-list 38 MW
Rejected:0 MW
Approved: 38MW
Import: 0 MW
Demand: 0 MW
Generating: 0 MW
Generating Resources:3,211 MW
Import Resources:
0 MW
Existing:458 MW
Existing:0 MW
New:47 MW
New:0 MW
Results at a GlanceNeed 3,209 MW Qualified 3,754 MW
Price @ Start $15.00/kW-Mo Price @ end $14.999/kW-Mo (New)
6.665/kW-Mo (Existing)
Uncapped 3,716 MW RTEG Capped N/A
Excess 507 MW Payment Rate $14.999/kW-Mo (New)6.665/kW-Mo (Existing
21
Connecticut Results FCA #7
New Resources:
70 MW
Existing Resources:9,012 MW
Demand: 63 MW
Generating:8,042 MW
Imports:0
Imports:0
Demand:970 MW
Generating:7 MW
Qualified Resources Entering the Auction:
9,082 MW
Resources cleared (uncapped) in the auction
at auction end:8,371MW
Existing:7,694 MW
New:0 MW
On Peak 63 MWSeasonal Peak 260 MWReal Time 211 MWReal Time EG 143 MW
Demand Resources:
677 MW
Import: MW
Demand: 355 MW
Generating: 348 MW
MW from existing resources requesting
to de-list 703 MW
Rejected:0 MW
Approved: 703 MW
Import: 0 MW
Demand: 0 MW
Generating: 0 MW
Generating Resources:7,694 MW
Import Resources:
0 MW
Existing:614 MW
Existing:0 MW
New:63 MW
New:0 MW
Results at a GlanceNeed 7,603 MW Qualified 9,082MW
Price @ Start $15.00/kW-Mo Price @ end $3.150/kW-Mo (floor)
Uncapped 8,363 MW RTEG Capped N/A
Excess 760 MW Payment Rate $2.883/kW-Mo
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Rest of Pool Results FCA #7
New Resources:2,332 MW
Existing Resources:19,301 MW
Demand: 119 MW
Generating:17,714 MW
Imports:112
Imports:2,015
Demand:1,474 MW
Generating:197 MW
Qualified Resources Entering the Auction:
21,633MW
Resources cleared (uncapped) in the auction
at auction end:20,182 MW
Existing:17,422 MW
New:126 MW
On Peak 740 MWSeasonal Peak 51 MWReal Time 241 MWReal Time EG 80 MW
Demand Resources:1,112 MW
Import: 0 MW
Demand: 481 MW
Generating: 292 MW
MW from existing resources requesting
to de-list 773 MW
Rejected:0 MW
Approved: 773 MW
Import: 0 MW
Demand: 0 MW
Generating: 0 MW
Generating Resources:17,548 MW
Import Resources:1,522 MW
Existing:994 MW
Existing:112 MW
New:118 MW
New:1,410 MW
Results at a GlanceNeed N/A Qualified 21,633MW
Price @ Start $15.00/kW-Mo Price @ end $3.150/kW-Mo (floor)
Uncapped 20,191 RTEG Capped N/A
Excess N/A Payment Rate 2.744/kW-Mo