The independent system operators and regional transmission organizations regulated by the Federal Energy Regulatory Commission have submitted to FERC a metrics report providing extensive data on grid operations and power markets in their regions.
The California Independent System Operator Corporation (California ISO), ISO New England, Inc. (ISO-NE), Midwest Independent Transmission System Operator, Inc. (Midwest ISO), New York Independent System Operator (NYISO), PJM Interconnection, L.L.C. (PJM) and Southwest Power Pool, Inc. (SPP) compiled the report as part of FERC’s efforts to develop standardized measures to track the performance of grid operations and power markets in ISO/RTOs and other regions of the nation.
Prepared at FERC’s request, the report includes more than 50 separate metrics providing information on electric system reliability, wholesale electricity market benefits and the organizational effectiveness of the six ISOs/RTOs under FERC jurisdiction.
“ISO New England is pleased to be a part of the ISO/RTO Metrics Report,” said Gordon van Welie, president and chief executive officer of ISO New England Inc. “For more than 13 years, ISO New England has consistently delivered value to New England, and we have made significant progress in developing much needed infrastructure in the region. The metrics discussed in the report provide valuable insight into the progress that we have made in markets development, operations and regional system planning.”
“The product of a 16-month collaborative process, this report demonstrates the commitment to transparency in the operations of ISOs/RTOs allowing the public to be more aware of how our industry provides cost-effective services to the more than 170 million consumers in ISO/RTO regions,” said Terry Boston, president and chief executive officer of PJM Interconnection.
According to Nick Brown, president and chief executive officer of the SPP, “This is the first time our organizations have worked together to compile such a wide variety of data. This report, which highlights SPP’s recent success in implementing several innovative cost allocation initiatives, will help FERC and other stakeholders better understand the individual and collective benefits of ISOs and RTOs.”
The report notes that its data should be viewed in context, given significant differences in the geographic territories served by the ISOs/RTOs, the regional reliability requirements developed for each system, the unique components of market designs, the composition of available power resources and other variables.
The report is intended to complement other mechanisms in place to measure ISO/RTO performance, including other detailed information annually submitted to FERC, the respective State of the Market reports for each ISO/RTO, FERC’s annual State of the Market Report, and reporting measures developed by the individual ISO/RTOs.
However, the American Public Power Association has responded to the ISO/RTO Council’s report by pointing out that the report continues to tout the benefits of RTO/ISO run electricity markets without the essential evidence to back it up. See APPA Calls Recently Released ISO/RTO Market Report 'Inadequate'.