6 Ancillary Services
IFM Procurement and Prices
Table 10 shows the monthly IFM average ancillary service procurement and Table 11 shows the monthly IFM average ancillary service prices.
In March the monthly IFM average procurement increased for regulation up, regulation down and spinning reserves, and decreased for non-spinning reserves compared to the previous month. The monthly IFM average prices increased for all ancillary services compared to the previous month.
| Month | Feb-2024 | Mar-2024 | Percent Change |
|---|---|---|---|
| Regulation_Up | 666 | 729 | 9.5% |
| Regulation_Down | 1050 | 1189 | 13.2% |
| Spin | 493 | 650 | 31.8% |
| Non-Spin | 1270 | 1150 | -9.4% |
| Ancillary Service | Feb-2024 | Mar-2024 | Percent Change |
|---|---|---|---|
| Non-Spin | $1.81 | $3.43 | 90.19% |
| Regulation_Down | $5.64 | $7.20 | 27.66% |
| Regulation_Up | $4.00 | $6.11 | 52.82% |
| Spin | $1.74 | $2.21 | 26.87% |
Figure 13 shows the daily IFM average ancillary service prices.
The average day-ahead ancillary service prices were volatile this month, but remained low.
Figure 13: IFM (Day-Ahead) Ancillary Service Average Price
Daily average ancillary procurement and prices in the real-time market (FMM) are shown in the Appendix.
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.
| Date | Hour Ending | Interval | Ancillary Service | Region | Shortfall | Percentage of requirement |
|---|---|---|---|---|---|---|