ISO-New England capacity auction ends at price floor with surplus
Washington (Platts)
ISO New England’s sixth forward capacity market auction acquired 36,309 MW of capacity for the June 1, 2015, to May 31, 2016, period and saw the withdrawal of the 604-MW Vermont Yankee nuclear plant, according to a Monday filing with the Federal Energy Regulatory Commission.
Under the forward capacity market, ISO-NE projects the needs of the power system three years in advance and holds an annual auction to purchase the power resources that will satisfy those future regional requirements. Resources that clear in the auction are committed to provide power or curtail when called upon by the ISO, or risk financial penalties. …