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 113 shows the flexible ramping up and down uncertainty payments.

Flexible ramping up uncertainty payment decreased to $8,048 in May from $61,917 in the previous month. Flexible ramping down uncertainty payment dropped to $27,070 in May from $45,370 in the previous month.

Figure 113: Flexible Ramping Up/Down Uncertainty Payment

Figure 114 shows the flexible ramping forecast payment.

Flexible ramping forecast payment rose to -$95,731 in May from -$314,618 in the previous month.

Figure 114: Flexible Ramping Forecast Payment