ISO New England's 11th Forward Capacity Market (FCM) auction (FCA #11), for the delivery year 2020-2021, closed at a preliminary, system-wide clearing price of $5.30 per kilowatt-month (kW-month), compared to $7.03/kW-month in the previous auction.

The clearing price will be paid to all resources in all three capacity zones in New England (Northern New England, Southern New England, and rest of pool) and 1,035 MW of imports from New York and Quebec. Imports from New Brunswick, totaling 200 MW, will receive $3.38/kW-month

The auction closed for most resources after six rounds of competitive bidding at $5.30/kW-month, the lowest clearing price since the floor price was eliminated in the 2013 auction, the ISO said

At $5.30/kW-month, the total value of the capacity market in 2020-2021 will be approximately $2.4 billion

No major generators retired in FCA #11 and no large new generators cleared in the auction, but 640 megawatts (MW) of new energy-efficiency and demand-reduction measures cleared and will be available in 2020-2021.

Tags:
ISO-NE   New England   Capacity Market   Pricing   ISO New England  

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