NYISO Market Monitor: Factoring in Change with Innotap Software
With New York’s electric system at its heart, the NYISO energy market is a highly complex and congested power system where huge demands are the norm. While its unique shared governance system among its members may not be an obvious driver of this not-for-profit company, its innovations in a number of areas have changed the face of the energy market overall. This ranges from its demand response programs, automatic mitigation programs, and the co-optimization of energy and ancillary services to its wind energy economics.
For energy traders, this market can be highly aggressive and changeable as evidenced by the recent leadership restructuring, the rollout of its new primary power control center, and the unpredictability of its winter weather energy demands. Like most of the country’s other energy market players, it is unclear how FERC emission rules will affect power generation, and therefore, fulfillment of demand. The NYISO’s most recent Reliability Needs Assessment predicts Generation retirements could cause New York to face electricity shortfalls sometime late in the next five years.
On the other side of the coin is the development of new capacity zones such as the one in the Lower Hudson Valley meant to increase the use of on-site power generation and storage systems. Obviously, this is a market with constant changes that require decision support software that can instantly plug in new data for the most accurate profile. Energy traders turn to Innotap’s NYISO market monitor software to ensure that they have the latest data and configuration flexibility at their fingertips in order to make profitable decisions regarding the NYISO.