Michael Giberson From Reuters: Amid NYC heat wave, Con Edison lowers power voltage New York energy company Consolidated Edison Inc reduced the power voltage in some Manhattan neighborhoods on Wednesday, in an action known as a brownout, as a brutal heat wave stressed the city’s electric system for a third day. This was the second …
NYC Brownouts? But Why?? I Thought They Had Electric Power Capacity Markets Read More »
Michael Giberson The Justice Department of the United States has agreed to a $12 million settlement with KeySpan Corporation on a Sherman antitrust act claim. The allegation was that KeySpan manipulated the New York ISO capacity market price in its part of the state from May 2006 through February 2008, reaping an estimated $49 million …
United States V. Keyspan Corporation Antitrust Case Settles for Paltry $12 Million Read More »
Michael Giberson The New York Independent System Operator has release a report, “Energy Storage in the New York Electricity Markets” (March 2010). The report offers an overview of existing grid-connected energy storage in New York, recent developments, and potential for further changes in the next several years. It is a good basic discussion of energy …
“Energy Storage in the New York Electricity Markets” Read More »
Michael Giberson Today the FERC approved public release of the results of an internal staff investigation into allegations of “loop flow”-based market manipulations in the New York ISO market (see links below): In this order, we authorize the public disclosure of the attached Office of Enforcement Staff Report (OE Report) addressing its non-public investigation of …
FERC Directs New York Power System Operator to Fix “Loop Flow” Scheduling Problem Read More »
Michael Giberson In economic theory, in lab experiments, in practice – pretty much generally speaking – it is well established in economics that a uniform clearing price auction works better than a pay-as-bid auction in cases such as the spot markets for power operated by the NYISO and ISO-New England (and every similar market in …
Michael Giberson In New York, a debate over the NYISO market design initiated by a report by Robert McCullough and committee hearings in the state legislature. The initial McCullough report asserted that the NYISO’s use of a uniform clearing price auction (the report calls it a “market-clearing price auction”, but “uniform clearing price” is technically …
Flawed Report, Subsequent Debate Should Advance Understanding of Nyiso Market Read More »
Michael Giberson Last week the New York ISO filed proposed tariff changes with the Federal Energy Regulatory Commission to revise how it treats wind power generation in its markets. Under the NYISO’s current rules, wind power generators are not treated as flexible resources. When the transmission system is overloaded, other generators can be asked to …
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