Despite above-average temperatures, the ISO-NE energy market value was down slightly in July 2024 relative to July 2023, ISO-NE COO Vamsi Chadalavada said at the NEPOOL Participants Committee meeting Aug. 1.  

Driven by the elevated temperatures, ISO-NE hit its highest peak load of the year July 16 at 24,816 MW, he added.  

Chadalavada also provided more information on the capacity scarcity event on the evening of June 18, which lasted about 25 minutes. 

The scarcity conditions were caused by about 1,600 MW of generator outages and reductions and a 600-MW generator tripping offline, Chadalavada said. The capacity performance payment rate was $5,455/MWh, and ISO-NE collected $14 million in pay-for-performance charges from underperforming resources. 

Votes

The PC voted to approve new data collection requirements for distributed energy resources. The new standards would include information on DER size, location and operating characteristics. Data is currently collected through voluntary submissions. (See NEPOOL Reliability Committee Briefs: July 16, 2024.) 

The committee also supported updates to the financial assurance policy to account for the delay of the 19th forward capacity auction.