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  • Pricing enhancements
    This initiative includes the scope of the administrative pricing rules initiative plus additional pricing enhancements for improving ISO market efficiency. Through this stakeholder process we will examine tariff provisions regarding market intervention during significant system emergencies and settlement of force majeure events. We also seek enhancements to address multiplicity of prices, compounded congestion due to multiple concurrently binding contingencies and schedule priorities for existing transmission rights.
    • Outcome
      The ISO implemented tariff changes that enhance the pricing rules and provide more appropriate and accurate price signals. These tariff changes were in three stages: 1) Revision to validation process for self-schedules supported by existing transmission rights or transmission ownership rights to avoid creating artificial congestion; 2) Modification to contingency modeling so that prices reflect the cost of congestion associated with limiting contingency under transmission constraint relaxation conditions and elimination of conditions leading to multiple pricing solutions for the same problem; and 3) Application of an administrative price when market prices are not available for any reason to provide greater transparency and market efficiency, streamlined ISO emergency procedures, and clarified and explained the limits of an “uncontrollable force” in relation to ISO markets. — Existing transmission contracts priority - Implemented: Nov. 4, 2015; FERC approval: Sept. 14, 2015; Tariff amendment filing: July 14, 2015 (ER15-2204) — Multiple contingency and multiplicity of pricing - FERC approval: Sept. 1, 2016; Tariff amendment filing: June 6, 2016 (ER16-1886) — Administrative pricing rules - FERC approval: Jan. 30, 2017; Tariff amendment filing: Nov. 23, 2016 (ER17-415) — Board of Governors approval: Dec. 18, 2014
    • Pricing enhancements - papers and proposals
    • Pricing enhancements - tariff language
    • Comments on draft final proposal
    • Comments on revised straw proposal
    • Comments on issue paper and straw proposal
    • Comments on administrative pricing rules - revised draft tariff language
    • Comments on administrative pricing rules - draft tariff language
    • Comments on multiple contingency and multiplicity of pricing - draft tariff language
    • Comments on existing transmission contracts priority - draft tariff language