6 Ancillary Services

IFM Procurement and Prices

Table 10 shows the monthly IFM average ancillary service procurement and Table 11 shows the monthly average prices.

In April the monthly average procurement decreased for regulation up and spinning reserves, but rose for regulation down and non-spinning reserves from the previous month. The monthly average prices for spinning reserves, non-spinning reserves and regulation up decreased while regulation down increased in April from the previous month.

Table 10: IFM Monthly Average Ancillary Service Procurement
Month Mar-2023 Apr-2023 Percent Change
Regulation_Up 591 554 -6.3%
Regulation_Down 1033 1061 2.7%
Spin 581 496 -14.6%
Non-Spin 1309 1458 11.4%
Table 11: IFM Monthly Average Ancillary Service Price
Month Mar-2023 Apr-2023 Percent Change
Non-Spin $10.57 $7.83 -26.0%
Regulation_Down $10.41 $11.36 9.1%
Regulation_Up $16.74 $14.34 -14.3%
Spin $9.54 $6.49 -32.0%

Figure 13 shows the daily IFM average ancillary service prices.

The average prices were generally stable this month.

Figure 13: IFM (Day-Ahead) Ancillary Service Average Price

IFM (Day-Ahead) Ancillary Service Average Price

Scarcity Events

The ancillary services scarcity pricing mechanism is triggered when the ISO is not able to procure the target quantity of one or more ancillary services in the IFM and real-time market runs. The scarcity events in this month are shown in Table 12 below.

Table 12: Ancillary Service Scarcity Events
Date Hour Ending Interval Ancillary Service Region Shortfall Percentage of requirement