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 May the monthly IFM average procurement increased for regulation up and non-spinning reserve and decreased for regulation down and spinning reserve compared to the previous month. The monthly IFM average prices increased for regulation down and decreased for regulation up, spinning and non-spinning reserves compared to the previous month.
| Month | Apr-2024 | May-2024 | Percent Change |
|---|---|---|---|
| Regulation_Up | 574 | 623 | 8.5% |
| Regulation_Down | 1115 | 1048 | -6.0% |
| Spin | 740 | 626 | -15.4% |
| Non-Spin | 1156 | 1372 | 18.7% |
| Ancillary Service | Apr-2024 | May-2024 | Percent Change |
|---|---|---|---|
| Non-Spin | $5.01 | $2.85 | -43.0% |
| Regulation_Down | $6.17 | $6.41 | 3.9% |
| Regulation_Up | $10.12 | $6.73 | -33.4% |
| Spin | $2.51 | $2.44 | -2.8% |
Figure 13 shows the daily IFM average ancillary service prices.
The average day-ahead ancillary service prices were generally quiet this month. Average day-ahead prices for regulation up increased on May 22 due to high opportunity cost of energy.
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 |
|---|---|---|---|---|---|---|