ISO-NE Forward Capacity Auction Again Hits Price Floor

June 28, 2011
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The ISO New England Forward Capacity Auction for the 2014-2015 delivery year cleared at the floor price of $3.209 per kW-month.

Only 42 MW of new generation cleared the auction. Some 263 MW of new demand-side resources and 871 MW of imports from new resources also cleared.

The total cleared capacity was 33,200 MW, with excess supply of 3,718 MW. This results in a prorated price of $2.86 per kW-month to be paid to capacity (which does not affect the price paid by load), with the final amount of capacity procured between 33,200 MW and 36,918 MW dependent upon the proration election of cleared capacity suppliers.

No price separation occurred during the auction, resulting in a single capacity zone.

Last year's auction also hit the price floor, which was $2.95 per kW-month in that auction.

ISO-NE said that it accepted 200 of 201 de-list bids submitted. The accepted bids will withdraw 1,170 MW of capacity from the capacity market, including some 798 MW of generation, 344 MW of demand-response resources, and 29 MW of imports.

The ISO rejected Entergy Nuclear Power Marketing's de-list bid for the 604 MW Vermont Yankee nuclear station due to reliability requirements.

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