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October 8-9, 2013| Westborough, ma

October 8-9, 2013| Westborough, ma. Carissa P. Sedlacek. Manager, Resource Analysis integration. Modify Timeline to Improve Information Dissemination. Non-Price Retirements Timeline. Overview.

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October 8-9, 2013| Westborough, ma

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  1. October 8-9, 2013| Westborough, ma Carissa P. Sedlacek Manager, Resource Analysis integration Modify Timeline to Improve Information Dissemination Non-Price Retirements Timeline

  2. Overview • Under the current timeline, a resource with a Non-Price Retirement (NPR) rejected for reliability may decide after the auction whether or not to retire • This is an unintended consequence due to the length of window associated with the submission and review of NPR’s • ISO-NE is proposing changes to the NPR timeline that will result in more information in the Forward Capacity Auction (FCA) Informational Filing to FERC and improve other downstream processes

  3. Summary of Proposed Changes Current Proposed NPRs due at the same time as de-list bids at the Existing Capacity Qualification Deadline All reliability reviews to be conducted between June and September (120 days). All NPRs to be studied simultaneously creating efficiencies ISO-NE completes review prior to FCA Information Filing thereby providing additional information to FERC and stakeholders • NPRs submitted during a four month window that closes in early October • ISO-NE review is based on a sliding 90 day review timeline, based on first come, first serve • FCA Information Filing submitted to FERC without final NPR reviews completed due to sliding timeline

  4. Summary of Proposed Changes cont’d Current Proposed NPR reliability review will be completed prior to the Composite Offer window Since NPR’s will be known earlier, they can be included in both requirements (ICR/LSR/MCL) calculations and the newly proposed Capacity Zone methodology • Partial NPRs may result in a low winter Qualified Capacity which cannot be cured with a Composite Offer because the NPR determination is made after the Composite Offer window closes • Due to timing, NPR’s are not included in requirements (ICR/LSR/MCL) calculations

  5. Summary of Proposed Changes cont’d Current Proposed Participant election to indicate whether a retained resource intends to retire regardless of reliability determination occurs 15 days prior to the FCA Permanent de-list bids converted into a NPR after receipt of Qualification Notification Determination have a 30 day review period by ISO-NE • Participant election to indicate whether a retained resource intends to retire regardless of reliability determination may occur after the FCA, leading to unanticipated auction outcomes in prices and quantities • Permanent de-list bids converted into a NPR after receipt of Qualification Notification Determination have a 90 day review period by ISO-NE

  6. Potential Non-Price Retirement Timeline

  7. Next Steps • At the November Markets Committee meeting, the ISO will bring revised market rule language and request a vote in December • Request action by the Participants Committee in January • Effective date no later than May 1, 2014 • It is intended that these rules changes would be in place for FCA #9

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