Innotap Software for the Evolving ISO-NE Energy Market
The ISO New England (ISO-NE) electricity market is the independent, nonprofit organization that administers the New England grid and its wholesale power market for the region spanning Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire, and most of Maine. Serving 14 million residents, ISO-NE has more than 400 companies participating in these markets that buy and sell between $6–$14 billion of electric power and related products annually. In 2013 alone, the wholesale electricity markets traded $9.2 billion in total energy, capacity and ancillary services in the region.
Just as in other energy markets, the ability to anticipate potential gains as well as risks can be difficult without access to the latest data. With fluctuations in natural gas prices and unpredictable winter weather, grid reliability issues can be an intermittent factor in New England in particular. The ISO-NE energy market has also begun treating wind, hydro, and solar as “dispatchable” resources, which means that they will likely become much more competitive in New England’s wholesale power markets.
The expected growth of renewable generation will be just one of the many facets of change that will impact energy traders in a myriad of ways. Having access to the latest data with Innotap Decision Support Software enables energy traders to make the most of these changes and tailor their trading decisions for the best chances of profitability in the ISO-NE electricity market with the lowest risk.