6 Ancillary Services
IFM Procurement and Prices
Table 10 shows the monthly IFM average ancillary service procurement and Table 11 shows the monthly average prices.
In November the monthly average procurement increased for spinning reserves and decreased for non-spinning reserves, regulation up and regulation down compared to the previous month. The monthly average prices decreased for all four ancillary services compared to the previous month.
| Month | Oct-2023 | Nov-2023 | Percent Change |
|---|---|---|---|
| Regulation_Up | 554 | 540 | -2.527% |
| Regulation_Down | 956 | 931 | -2.615% |
| Spin | 475 | 477 | 0.421% |
| Non-Spin | 1432 | 1320 | -7.821% |
| Ancillary Service | Oct-2023 | Nov-2023 | Percent Change |
|---|---|---|---|
| Non-Spin | $4.82 | $3.85 | -20.1% |
| Regulation_Down | $6.18 | $5.49 | -11.2% |
| Regulation_Up | $10.36 | $8.09 | -21.9% |
| Spin | $4.65 | $3.50 | -24.8% |
Figure 13 shows the daily IFM average ancillary service prices.
The average day-ahead ancillary service prices were relatively stable this month.
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 |
|---|---|---|---|---|---|---|