Title :
Planning for reliability, economics, and the environment in a deregulated market
Author :
Henderson, M. ; Wong, P. ; Platts, J. ; Burke, R.
Author_Institution :
ISO New England, Holyoke, MA
Abstract :
The ISO New England planning process calls for providing reliability, economic, and environmental information to participants. This includes summaries of loss of load expectation studies, transmission adequacy evaluations, environmental issues and performance, and locational marginal pricing, production cost, and congestion information. Short term certainty of resources is provided by the forward capacity market that is designed to provide supply and demand-side resources where needed approximately three years into the future. Resources that qualify for bidding into this market also suggest where longer term development is likely. As part of its planning process, ISO New England also provides information on environmental issues, such as the region wide regional greenhouse gas initiative (a carbon dioxide cap and trade system in the Northeastern United States) and renewable portfolio standards (state requirements that require load to purchase energy from low emitting resources). Historical economic information is provided in an annual markets report and supplemental information. A recent scenario analysis initiative provided long-term economic and environmental results for various types of resource expansions with the goal of providing needed information to policy makers. Finally, if sufficient market solutions arenpsilat forthcoming, transmission solutions are developed to meet the reliability and economic needs of the system. These transmission improvements have ranged from major transmission lines through those that provide better control of the network through flexible alternating current transmission systems and high voltage direct current installations.
Keywords :
power markets; power transmission economics; power transmission planning; ISO New England planning process; air emissions; congestion information; deregulated market; economic information; environmental information; environmental issues; flexible alternating current transmission systems; forward capacity market; fuel diversity; high voltage direct current installations; load expectation; locational marginal pricing; operable capacity analysis; production cost; regional greenhouse gas initiative; renewable portfolio standards; system planning; transmission adequacy evaluations; transmission lines; transmission planning; Costs; Environmental economics; Global warming; ISO standards; Performance loss; Power generation economics; Pricing; Process planning; Production; Propagation losses; LOLE analysis; System planning; air emissions; deregulation; fuel diversity; operable capacity analysis; transmission planning;
Conference_Titel :
Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century, 2008 IEEE
Conference_Location :
Pittsburgh, PA
Print_ISBN :
978-1-4244-1905-0
Electronic_ISBN :
1932-5517
DOI :
10.1109/PES.2008.4596409