Section 6 Ancillary Services
IFM Procurement and Prices
Table 6.1 hows the monthly IFM average ancillary service procurements and Table 6.2 the monthly average prices. In February the monthly average procurement decreased for all four types of ancillary services. The monthly average prices increased for all four types of ancillary services this month.
| Month | Feb-2021 | Jan-2021 | Percent Change |
|---|---|---|---|
| Regulation_Up | 402 | 420 | -4.29% |
| Regulation_Down | 617 | 707 | -12.73% |
| Spin | 841 | 974 | -13.66% |
| Non-Spin | 843 | 974 | -13.45% |
| Month | Feb-2021 | Jan-2021 | Percent Change |
|---|---|---|---|
| Non-Spin | $0.88 | $0.13 | 562% |
| Regulation_Down | $22.04 | $11.87 | 86% |
| Regulation_Up | $13.93 | $5.88 | 137% |
| Spin | $8.34 | $2.35 | 255% |
Figure 6.1 shows the daily IFM average ancillary service prices. On February 13-18, the average prices for regulation up, regulation down and spinning reserve were elevated due to high opportunity cost of energy, which was driven by high gas prices.
Figure 6.1: 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 Febnuary are shown in the Table 6.3 below, which are all in the real-time market.
| Date | Hour Ending | Interval | Ancillary Service | Region | Shortfall | Percentage of requirement |
|---|---|---|---|---|---|---|
| Feb-26 | 15 | 1,2,3,4 | Regulation Down | NP26_EXP | 0.11 | 0.0400% |