12 Flexible Ramping Product

On November 1, 2016 the ISO implemented two market products in the 15-minute and 5-minute markets: Flexible Ramp Up and Flexible Ramp Down uncertainty awards. These products provide additional upward and downward flexible ramping capability to account for uncertainty due to demand and renewable forecasting errors. In addition, the existing flexible ramping sufficiency test was extended to ensure feasible ramping capacity for real-time interchange schedules.

Flexible Ramping Product Payment

Figure 87 shows the flexible ramping up and down uncertainty payments. Flexible ramping up uncertainty payment inched up to $0.24 million in August from $0.21 million in July. Flexible ramping down uncertainty payment increased to -$1,754 in August from -$2,845 in July.

Figure 87: Flexible Ramping Up/down Uncertainty Payment

Figure 88 shows the flexible ramping forecast payment. Flexible ramping forecast payment rose to $279,662 this month from $131,415 in July.

Figure 88: Flexible Ramping Forecast Payment