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 87 shows the flexible ramping up and down uncertainty payments. Flexible ramping up uncertainty payment inched up to $0.33 million in July from $0.27 million in June. Flexible ramping down uncertainty payment increased to $5,968 in July from $530 in June.

Figure 87: Flexible Ramping Up/down Uncertainty Payment

Figure 88 shows the flexible ramping forecast payment. Flexible ramping forecast payment rose to $0.44 million this month from $0.15 million in June.

Figure 88: Flexible Ramping Forecast Payment