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 112 shows the flexible ramping up and down uncertainty payments.

Flexible ramping up uncertainty payment increased to $41,300 in January from $3,710 in the previous month. Flexible ramping down uncertainty payment decreased to $5,550 in January from $14,200 in the previous month.

Figure 112: Flexible Ramping Up/Down Uncertainty Payment

Figure 113 shows the flexible ramping forecast payment.

Flexible ramping forecast payment increased to $667,000 in January from -$108,000 in the previous month.

Figure 113: Flexible Ramping Forecast Payment