Nepool starts hourly wholesale trading
The New England Power Pool (Nepool) began hourly trading of wholesale electricity in May. The move brought an end to 28 years of system planning to decide which generators would be brought into service to meet power demand in the New England system.
The competitive trading system allows generators to sell power and reserve capacity through a spot market as well as make private bilateral trades. Nepool and ISO New England, the independent system operator, had planned to introduce the system in December
Nepool has six new products that marketers can trade on an hourly basis. These are bid-based electricity sales and trading for five services that Nepool deems crucial to maintaining the reliability of the system. For the first 90 days of trading, ISO New England has been given FERC authority to intervene in an emergency.
• FERC has rejected a proposed governance structure for the New York independent system operator for a second time. It stated that the governance plan does not go far enough to overcome concerns that transmission providers would have too much control of the state`s grid management panel.