ISO New England is responsible for overseeing and administering New England’s suite of wholesale electricity markets. When these markets are efficient and competitive—both in their design and in market participant behavior—they work together to help ensure the reliable availability and competitive pricing of wholesale electricity. ISO New England employs two independent market monitors to regularly review, analyze, and report on market results, and offer recommendations on market improvements. These market monitors are also charged with notifying the Federal Energy Regulatory Commission of any behavior by market participants or the ISO requiring investigation.
This dual-monitor strategy is similar to how internal and external auditors are used jointly for corporate finance oversight. For details on the roles, responsibilities, and authority of each market monitor, see the ISO Tariff (Section III, Appendix A: Market Monitoring, Reporting, and Market Power Mitigation).