The independent system operators (ISOs) and regional transmission organizations (RTOs) regulated by the Federal Energy Regulatory Commission (FERC) submitted to the commission a metrics report providing extensive data on grid operations and power markets in their regions.
The California Independent System Operator (CAISO), ISO New England (ISO-NE), Midwest Independent Transmission System Operator (Midwest ISO), New York Independent System Operator (NYISO), PJM Interconnection (PJM) and Southwest Power Pool (SPP) compiled the report as part of FERC's efforts to develop standardized measures to track the performance of grid operations and power markets in ISO/RTOs and other regions of the nation.
The report includes more than 50 separate metrics providing information on electric system reliability, wholesale electricity market benefits and the organizational effectiveness of the six ISOs/RTOs under FERC jurisdiction.
“The wide array of information provided by the report illustrates the transparency of ISO/RTO operations and markets,” said Stephen G. Whitley, president and CEO of the NYISO and chair of the ISO/RTO council. “The report shows that ISOs/RTOs are operating the grid reliably, administering markets openly and efficiently, advancing public policy energy objectives and enabling demand response and energy efficiency.”
“The California ISO is proud of the performance metrics highlighted in the report such as the $9.5 billion in transmission expansion approved by the ISO, much of which is already constructed. More good news shows 18,000 MW of new generation was built in the last decade,” said Yakout Mansour, president and CEO of the CAISO. “Renewable integration is facilitated by our new market system, which also has resulted in greater market liquidity, competitive prices and enhanced reliability.”
“ISO New England is pleased to be a part of the ISO/RTO Metrics Report,” said Gordon van Welie, president and CEO of ISO New England. “For more than 13 years, ISO New England has consistently delivered value to New England, and we have made significant progress in developing much needed infrastructure in the region. The metrics discussed in the report provide valuable insight into the progress that we have made in markets development, operations and regional system planning.”
“This report is a welcome complement to Midwest ISO's development and refinement of our own value proposition metrics,” said John Bear, president and CEO of the Midwest ISO. “Since the Midwest energy markets began in 2005, we have continued to collaborate with our stakeholders to create and enhance our meaningful and effective set of tools that measure the value the Midwest ISO provides to them and their customers.“
“The product of a 16-month collaborative process, this report demonstrates the commitment to transparency in the operations of ISOs/RTOs allowing the public to be more aware of how our industry provides cost-effective services to the more than 170 million consumers in ISO/RTO regions,” said Terry Boston, president and CEO of PJM.
According to Nick Brown, president and CEO of the SPP, “This is the first time our organizations have worked together to compile such a wide variety of data. This report, which highlights SPP's recent success in implementing several innovative cost-allocation initiatives, will help FERC and other stakeholders better understand the individual and collective benefits of ISOs and RTOs.”
The report notes that its data should be viewed in context, given significant differences in the geographic territories served by the ISOs/RTOs, the regional reliability requirements developed for each system, the components of market designs, the composition of available power resources and other variables.
The report is intended to complement other mechanisms in place to measure ISO/RTO performance, including other detailed information annually submitted to FERC, the respective State of the Market reports for each ISO/RTO, FERC's annual State of the Market Report and reporting measures developed by the individual ISO/RTOs.
To learn more, visit www.iso-rto.org.