NEPGA Files in Support of Day-Ahead Reserves – FERC Docket No. ER24-275-000

On November 21, 2023, NEPGA filed Comments in support of ISO-NE’s proposal to price and procure four types of reserves co-optimized with energy in the day-ahead energy market – its so-called Day-Ahead Ancillary Services proposal (Docket No. ER24-275-000). The proposal creates day-ahead ten-minute spinning, ten-minute non-spinning, thirty-minute operating, and energy imbalance reserves, while retiring the existing Forward Reserve Market. The DASI products are call-options on energy co-optimized with energy in the Day-Ahead Energy Market. ISO-NE plans for the proposal to take effect by March 1, 2025. NEPGA filed in support on the basis that the DASI proposal marks a significant improvement to price signals and incentives to deliver on reserves, while also calling upon ISO-NE to move forward expeditiously with the development of longer lead-time day-ahead ancillary services. NEPGA as well called upon ISO-NE and the Internal Market Monitor to annually review the performance of the DASI design, including with respect to the Strike Price, physical withholding mitigation rules, and offer price formation.

 NEPGA-Comments-DASI_ER24-275.pdf
Posted in Document Archive, Federal Filings, Recent Filings.