WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 222
Market Data
Money Market Regulations
ENERGY IN
THE REGIONS
HOME
Market reform
FIGURE 9
Existing market designs across the world (1/4)
Key Existing Energy Market Design In the USA
Energy-Only
The Electric Reliability
Council of Texas (ERCOT)
• ERCOT manages the Texas Interconnection, the electric grid in most of Texas
• It operates an energy-only market where generators are paid only when they provide power to the grid on a day-to-day basis
USA
Hybrid (Energy,
Capacity and
Ancillary Model)
Pennsylvania New Jersey
Maryland Interconnection
(PJM)
• PJM operates the Reliability Pricing Model (RPM), a forward capacity market into which capacity resources participate by
selling their available capacity to help PJM meet its forecasted load needed to ensure reliability in each delivery year
• It coordinates the movement of wholesale electricity in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan,
New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia
USA
Hybrid (Energy,
Capacity and
Ancillary Model)
Midcontinent Independent
Operator (MISO)
• MISO is a not-for-pro昀椀t quasi-governmental organization that ensures the reliable, least-cost delivery of electricity across all or
parts of 15 USA states (Arkansas, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana,
North Dakota, South Dakota, Texas, and Wisconsin) and one Canadian province (Manitoba). It is geographically the largest ISO in
the USA
USA
USA
USA
Hybrid (Energy,
Capacity and
Ancillary Model)
ISO New England (ISO-NE)
• ISO-NE ensures the day-to-day reliable operation of New England’s bulk power generation and transmission system, oversees
and ensures the fair administration of the region’s wholesale electricity markets, and manages comprehensive, regional planning
processes
• SO-NE’s existing forward capacity market was originally designed in line with the average three-year development timeline
for new gas power plants. But the grid operator now expects nearly all new capacity resources in the New England region to be
o昀昀shore wind, solar and battery storage by 2029.
Hybrid (Energy,
Capacity and
Ancillary Model)
New York ISO (NYISO)
• NYISO operates New York State’s high voltage transmission network, administers and monitors the wholesale electricity
markets in the state, and plans for the state’s energy future. While NYISO operates only NY’s grid, it is subject to FERC’s regulatory
authority because the grid is interconnected with other grids in the region
Source: Thomson Reuters, SP Global
WEMO 2024
Country/Region
Operators
222
Key Insights
Market Design
