ISO New England on Feb. 27 filed with the Federal Energy Regulatory Commission the results for the ninth Forward Capacity Auction (FCA), which was held on Feb. 2 for the June 2018-May 2019 Capacity Commitment Period.
The auction commenced with a starting price of $17.728/kW-month. In the NEMA/Boston, Connecticut and Rest-of-Pool Capacity Zones, the descending clock auction concluded after three rounds. Resources in those Capacity Zones will be paid at a price of $9.551 /kW-month.
The auction continued for one additional round for New York AC Ties imports, closing at $7.967/kW-month, and two additional rounds for New Brunswick imports, closing at a price of $3.94/kW-month. In the SEMA/RI Capacity Zone, there were inadequate resources to meet the zone’s Local Sourcing Requirement. Since all the resources that qualified, including the new resources, were needed to meet the Local Sourcing Requirement in SEMA/RI, bidding never opened in the SEMA/RI Capacity Zone.
Due to the inadequate resources in the SEMA/RI Capacity Zone, the administrative pricing provisions of the Tariff relating to Inadequate Supply were triggered. Under those rules, new resources in the SEMA/RI Capacity Zone will be paid at the auction starting price of $17.728/kW-month and existing resources in the zone will be paid $11.08/kW-month.