Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Electric Power

NYISO gets FERC approval to add energy storage to real-time market settlement rules

Natural Gas | Natural Gas (North American) | Oil | Crude Oil

Permian drillers brace for slowdown on challenging demand outlook

Electric Power

Platts M2MS-Power

Electric Power | Electric Power Risk | Banking | Private Markets

Nodal Trader Conference, 12th Annual

Oil

Oil futures climb despite stock release plans after Abqaiq attack

NYISO gets FERC approval to add energy storage to real-time market settlement rules

Highlights

New tariff language designates storage as suppliers

Storage in NYISO markets seen topping 1 GW by 2025

Washington — Having received the nod from the Federal Energy Regulatory Commission, New York's grid operator is moving forward with a proposal to prepare its real-time market settlement rules for the expansion of wholesale market participation by energy storage resources.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

New York currently has about 30 MW of energy storage capability, all located downstate, but its grid operator anticipates that figure growing to more than 1,000 MW by 2025 and nearly 4,000 MW by 2039.

FERC's Order 841, issued last year, mandated tariff changes creating market participation rules that recognize the physical and operational characteristics of storage and accommodate its participation in the wholesale power markets. New York Independent System Operator in December filed a suite of tariff revisions (ER16-467) to comply with the order, and separately worked energy storage resources into a March 15 proposal (ER19-1332) to remove unnecessary complexity from its real-time market settlement rules.

NYISO has requested an effective date no earlier than May 1, 2020, for its Order 841 compliance filing, which remains under FERC review. But the commission Friday accepted the proposed real-time market settlement rule tweaks.

The changes, which will take effect May 15, clarify calculations regarding energy injections and withdrawals that are not scheduled in the day-ahead market, including deviations from day-ahead schedules. Such injections and withdrawals are subject to NYISO's real-time market settlement often referred to as balancing market settlements.

The resulting balancing payments and charges address differences between scheduled and actual energy injections and withdrawals as well as differences between real-time and day-ahead energy schedules.

CONSOLIDATED TARIFF SECTIONS

FERC's Friday sign-off clears the way for NYISO to consolidate tariff language addressing real-time market settlement for energy injections into one section and settlement for withdrawals in another section. The grid operator determined that differentiating between whether actual market activity exceeded or was less than day-ahead schedules was adding "unneeded complexity to the tariff rules."

NYISO explicitly designated energy storage resources as suppliers in those tariff revisions.

The consolidated tariff section for energy injections "includes real-time market settlement rules for suppliers bidding generators, including energy storage resources, and for suppliers scheduling imports into the New York Control Area," NYISO said in its filing.

The grid operator added that the "revisions specify that the real-time energy imbalance formulas in [that tariff section] will apply to both injections and withdrawals for energy storage resources."

NYISO's tariff filing also adds two real-time payment formulas for generators within the NYCA -- one for real-time dispatch intervals with positive locational based marginal prices and the other for intervals with negative prices -- and a payment formula for imports. While the formulas are new, they "facilitate the same settlement mechanics that exist today," NYISO said.

The other consolidated tariff section "includes real-time market settlement rules for customers with actual energy withdrawals and for customers scheduling exports from the [NYCA]," the grid operator said.

-- Jasmin Melvin, jasmin.melvin@spglobal.com

-- Edited by Valarie Jackson, newsdesk@spglobal.com