MISO said it is close to completing a proposal to create a four-season capacity market after floating a rudimentary plan with skeptical stakeholders.

In an effort to avoid an increase in emergency operating conditions, MISO plans to develop a new direction for its capacity auction.

MISO agrees with nearly all the new recommendations its Monitor issued this year, though executing the ideas may take some time.

MISO's resource adequacy staff is considering multiple options to implement a sub-annual capacity mechanism.

MISO said it will begin hunting for solutions to mitigate the gap between LMRs that clear capacity auctions and what actually happens in emergencies.

MISO will evaluate the merits of defining new seasonal reliability criteria and implementing a sub-annual capacity construct, stakeholders learned.

MISO said it continues to weigh changes to its markets and resource adequacy construct as part of its multiyear resource availability and need project.

MISO said a new rule prohibiting resources on extended outages from offering capacity contributed to the historic spike in Zone 7 prices in April’s PRA.

MISO said it will file a one-time waiver with FERC to ensure market participants can replace load-modifying resources impacted by the coronavirus pandemic.

Stakeholders asked if MISO’s new long-term generation outage policy played a role in driving up Michigan capacity prices in the Planning Resource Auction.