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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:
      STAGE 1) Revision to validation process for self-schedules supported by existing transmission rights or transmission ownership rights to avoid creating artificial congestion — Implemented: Nov 04, 2015; FERC approval: Sep 14, 2015; Tariff amendment filing - existing transmission contracts priority: Jul 14, 2015 (ER15-2204);
      STAGE 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 — FERC approval: Sep 01, 2016; Tariff amendment filing - multiple contingency and multiplicity of pricing: Jun 06, 2016 (ER16-1886);
      STAGE 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. — FERC approval: Jan 30, 2017; Tariff amendment filing - administrative pricing rules: Nov 23, 2016 (ER17-415)
      — Board of Governors approval: Dec 18, 2014
    • Pricing enhancements - papers and proposals