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iso new england and pjm interconnection propose a
standard market design for wholesale electricity markets
march 29 , 2001 - holyoke , ma - two of the country ' s leading wholesale
electricity market administrators , iso new england inc . and pjm
interconnection ,
l . l . c . , together with alstom esca corporation , a systems developer for
electric
utilities , today announce their intent to formalize an agreement that will not
only standardize their electricity markets , but will lead , they believe , to
the
standardization of wholesale electricity markets across the country .
today , iso new england delivered a letter to the chairman and commissioners of
the federal energy regulatory commission ( ferc ) , enclosing a report concerning
its proposed comprehensive wholesale market program that combines salient
features of the pjm market model with elements of its own existing wholesale
market design . the combination would create a standardized wholesale market
structure called the standard market design for wholesale electricity markets
( " standard market design " ) .
iso new england , alstom esca and pjm , acting through its wholly - owned
subsidiary , pjm technologies inc . , have agreed to proceed with the negotiation
of an agreement where iso new england will purchase the existing pjm market
design and certain software components from alstom esca and pjm . the two isos
and alstom esca will work together to create a standardized market design that
includes solutions to reserve markets and a common solution to unit dispatch .
" this new market standard should put into place the necessary market
improvements more quickly and at a reduced cost than if we were to implement a
customized market system for new england , " said william w . berry , chairman and
acting ceo of iso new england . " now is the time to stop the experimentation .
ultimately , we hope the standard market design will serve as the benchmark for
wholesale electricity marketplaces across the country , if not around the
world . "
" pjm is very excited to further standardize a design for a competitive
wholesale
electricity market , " said phillip g . harris , chairman and ceo of pjm . " along
with the progress in the implementation of the pjm west concept , this
initiative
will provide an even broader standardized market design . "
this approach should further expedite the elimination of trading barriers
across
different markets and promote ferc ' s goal of creating a seamless marketplace .
" we intend to continue to work with the new york iso on issues of mutual
importance , " stated mr . berry . " this new market design , together with our
efforts to address the market " seams " and other coordination issues , will
eventually bring the three northeast iso markets closer together . " iso new
england and the new york iso will continue to work together on these issues
under a joint board resolution passed on january 16 , 2001 .
" because of our geographic location , new york is in the center of the
northeast
markets , with iso new england , pjm and imo each on one of our borders . we
support the continued elimination of barriers across northeast trading markets
to develop a more seamless marketplace where everyone will benefit , " said
william j . museler , president and ceo of the new york independent system
operator . " the new york iso will continue to work with our neighboring markets
to remove barriers to trading across the region and to move towards larger
regional markets . "
this proposed market design standard will be developed jointly with
stakeholder
input . iso new england will propose the standard market design to the new
england conference of public utility commissioners and the new england power
pool in a series of meetings next week . additional meetings will be conducted
in the next few weeks . the standard market design for new england will be
subject to ferc approval .
" standardization requires consistent and reliable technology to facilitate a
market ' s efficiency . a market that moderates price fluctuations and
encourages
investment based on an expected return is an efficient market - - and
efficiency
is the key to establishing market liquidity , " said alain steven , ceo of alstom
esca . " in the future , this agreement will be viewed as a catalyst in
establishing more robust electricity markets . "
iso new england inc . is the not - for - profit corporation responsible for the
day - to - day reliable operation of new england ' s bulk generation and
transmission
systems with an installed capacity of almost 26 , 000 megawatts . in addition to
operating the bulk power grid , iso new england is the administrator of the
region ' s wholesale electricity marketplace and the open access transmission
tariff on behalf of the new england power pool . iso new england is based in
holyoke , massachusetts .
the pjm interconnection , l . l . c . , is an independent system operator ,
administering the pjm open access transmission tariff and operating the pjm
energy markets and capacity markets . pjm currently administers the largest
wholesale electricity market in the world and has a membership of more than
200 .
it is headquartered in norristown , pennsylvania . pjm technologies , inc . is a
wholly - owned subsidiary of pjm interconnection , l . l . c . , designed to respond to
market opportunities by bringing cost - effective , reliable solutions to the
energy marketplace . it was created to commercialize pjm ' s knowledge capital ,
experience , and proven success in electric energy markets , system operations ,
and applications development .
# # #
for more information about the new york iso , please call : steve sullivan ,
director of communications , 518 - 356 - 7605 .
please do not reply to this message . if you have a question for pjm customer
relations and training , please complete and submit this form :
to unsubscribe from this list , send an e - mail to majordomo @ majordomo . pjm . com
containing only the following line in the body of the e - mail :
unsubscribe pjm - customer - info
iso new england and pjm propose standard market design
message sent from the pjm - customer - info mailing list at
pjm - customer - info @ majordomo . pjm . com :
iso new england and pjm interconnection propose a
standard market design for wholesale electricity markets
march 29 , 2001 - holyoke , ma - two of the country ' s leading wholesale
electricity market administrators , iso new england inc . and pjm
interconnection ,
l . l . c . , together with alstom esca corporation , a systems developer for
electric
utilities , today announce their intent to formalize an agreement that will not
only standardize their electricity markets , but will lead , they believe , to
the
standardization of wholesale electricity markets across the country .
today , iso new england delivered a letter to the chairman and commissioners of
the federal energy regulatory commission ( ferc ) , enclosing a report concerning
its proposed comprehensive wholesale market program that combines salient
features of the pjm market model with elements of its own existing wholesale
market design . the combination would create a standardized wholesale market
structure called the standard market design for wholesale electricity markets
( " standard market design " ) .
iso new england , alstom esca and pjm , acting through its wholly - owned
subsidiary , pjm technologies inc . , have agreed to proceed with the negotiation
of an agreement where iso new england will purchase the existing pjm market
design and certain software components from alstom esca and pjm . the two isos
and alstom esca will work together to create a standardized market design that
includes solutions to reserve markets and a common solution to unit dispatch .
" this new market standard should put into place the necessary market
improvements more quickly and at a reduced cost than if we were to implement a
customized market system for new england , " said william w . berry , chairman and
acting ceo of iso new england . " now is the time to stop the experimentation .
ultimately , we hope the standard market design will serve as the benchmark for
wholesale electricity marketplaces across the country , if not around the
world . "
" pjm is very excited to further standardize a design for a competitive
wholesale
electricity market , " said phillip g . harris , chairman and ceo of pjm . " along
with the progress in the implementation of the pjm west concept , this
initiative
will provide an even broader standardized market design . "
this approach should further expedite the elimination of trading barriers
across
different markets and promote ferc ' s goal of creating a seamless marketplace .
" we intend to continue to work with the new york iso on issues of mutual
importance , " stated mr . berry . " this new market design , together with our
efforts to address the market " seams " and other coordination issues , will
eventually bring the three northeast iso markets closer together . " iso new
england and the new york iso will continue to work together on these issues
under a joint board resolution passed on january 16 , 2001 .
" because of our geographic location , new york is in the center of the
northeast
markets , with iso new england , pjm and imo each on one of our borders . we
support the continued elimination of barriers across northeast trading markets
to develop a more seamless marketplace where everyone will benefit , " said
william j . museler , president and ceo of the new york independent system
operator . " the new york iso will continue to work with our neighboring markets
to remove barriers to trading across the region and to move towards larger
regional markets . "
this proposed market design standard will be developed jointly with
stakeholder
input . iso new england will propose the standard market design to the new
england conference of public utility commissioners and the new england power
pool in a series of meetings next week . additional meetings will be conducted
in the next few weeks . the standard market design for new england will be
subject to ferc approval .
" standardization requires consistent and reliable technology to facilitate a
market ' s efficiency . a market that moderates price fluctuations and
encourages
investment based on an expected return is an efficient market - - and
efficiency
is the key to establishing market liquidity , " said alain steven , ceo of alstom
esca . " in the future , this agreement will be viewed as a catalyst in
establishing more robust electricity markets . "
iso new england inc . is the not - for - profit corporation responsible for the
day - to - day reliable operation of new england ' s bulk generation and
transmission
systems with an installed capacity of almost 26 , 000 megawatts . in addition to
operating the bulk power grid , iso new england is the administrator of the
region ' s wholesale electricity marketplace and the open access transmission
tariff on behalf of the new england power pool . iso new england is based in
holyoke , massachusetts .
the pjm interconnection , l . l . c . , is an independent system operator ,
administering the pjm open access transmission tariff and operating the pjm
energy markets and capacity markets . pjm currently administers the largest
wholesale electricity market in the world and has a membership of more than
200 .
it is headquartered in norristown , pennsylvania . pjm technologies , inc . is a
wholly - owned subsidiary of pjm interconnection , l . l . c . , designed to respond to
market opportunities by bringing cost - effective , reliable solutions to the
energy marketplace . it was created to commercialize pjm ' s knowledge capital ,
experience , and proven success in electric energy markets , system operations ,
and applications development .
# # #
for more information about the new york iso , please call : steve sullivan ,
director of communications , 518 - 356 - 7605 .
please do not reply to this message . if you have a question for pjm customer
relations and training , please complete and submit this form :
to unsubscribe from this list , send an e - mail to majordomo @ majordomo . pjm . com
containing only the following line in the body of the e - mail :
unsubscribe pjm - customer - info