Forward Capacity Market Credit

What is the Forward Capacity Market Credit?

The Forward Capacity Market (FCM) Credit reflects the following:

  • Credits or charges based on Resource activity in the Forward Capacity Auction (FCA), Capacity Supply Obligation (CSO) Bilateral Transactions, and Reconfiguration Auctions (RA)
    • Credits received from the FCA are based upon the clearing prices/payment rates and CSO MWs from the FCA.
    • Credits or charges from CSO Bilateral Transactions are based upon the traded MWs and the associated bilateral rate.
    • Credits or charges from annual or monthly RAs are based upon cleared supply offers and demand bids, and associated clearing prices.
  • Peak Energy Rent (PER) Adjustment reflects revenues during high priced hours in the Energy markets and is based upon a rolling 12-month average of Monthly PER values.
  • Availability penalties and credits are assessed or received based on Generating or Import Capacity Resource performance during Shortage events for the obligation month.
  • Performance penalties and incentives are assessed or earned based on Demand Resource performance during dispatch events or seasonal performance hours.

In what document(s) do I find details about Forward Capacity Market Credit?

Primary provisions for the Forward Capacity Market Credit are included in, but not limited to Market Rule 1, Section III.13.7.2.

Who can expect to incur a Forward Capacity Market Credit?

Generation, Import and Demand Resources

FCM Credits are applicable to Generating, Import and Demand Resources that have cleared in an FCA (excluding Self-Supplied FCA portions of Resources or Resources not commercial during an Obligation Month), cleared in an RA, or entered into a CSO Bilateral Transaction.

An FCM Credit may be a positive or negative value.

Related Standard Settlements

N/A

Related Billing Adjustments

N/A

Bill Detail

The monthly bill detail contains a single line item for the Gross Supply Credit adjusted for Availability or Performance and PER entitled "Forward Capacity Market Credit."

Reports

Daily Financial Position Report

BL_DAILYPOSITION Daily financial position including all market service settlements and miscellaneous billing adjustments generated on a daily basis; and, issued to all active customers registered as a Participant or Non-Participant.

Forward Capacity Market Preliminary Availability

SD_FCMPREAVAIL Resource preliminary availability score, issued during the obligation month for each day in which a Shortage Event has occurred. Issued to the Lead Market Participant for the Resource mid-month during the applicable settlement obligation month.

Forward Capacity Market Settlement Details

SD_FCMRESSTLDTL Detail of Forward Capacity Market supply credits, adjusted for Peak Energy Rents, issued to the Lead Market Participant for the Resource mid-month during the applicable settlement obligation month.

Monthly Equivalent Planned Outage Hours Settlement Detail

SD_MONTHLYEPOH Resource Equivalent Planned Outage Hours, issued the month following the settlement obligation month. Issued to the Lead Market Participant for the Resource mid-month after the settlement obligation month

Annual Equivalent Planned Outage Hours Settlement Detail

SR_FCMANNUALEPOH Equivalent Planned Outage Hours Allotment, issued annually at the start of the applicable Capacity Commitment Period after the completion of initial Monthly Equivalent Planned Outage Hours settlements for the prior Capacity Commitment Period. Issued to Forward Capacity Market Customers who are Lead Market Participants for a non-intermittent generator or import resource. It may be reissued when the reconciliation settlements are completed.

Related Calculation Summary

FCM Equivalent Planned Outage Hours Calculation Summary

Forward Capacity Market Performance Settlement Detail

SD_FCMPERFORMSTLDTL Details of Demand Resource penalties and incentives, issued to the Lead Market Participant for the Resource the month following the applicable settlement obligation month.

Related Calculation Summary


FCM Credits and PER Adjustment Calculation Summary

Forward Capacity Market Performance Settlement

SR_FCMPERFORMSTL Summary of Demand Resource penalties and incentives issued to the Lead Market Participant for the Resource the month following the applicable settlement obligation month.

Related Calculation Summary


FCM Demand Resource Performance Calculation Summary

Forward Capacity Market Availability Penalty & Credit Summary

SD_FCMAVAIL Details of Generating and Import resource penalties and credits, issued to the Lead Market Participant for the Resource in the month following the obligation month.

Forward Capacity Market Availability Penalty & Credit Summary

SR_FCMAVAILSUM Summary of Generating and Import resource penalties and credits, issued to the Lead Market Participant for the Resource in the month following the obligation month.

Related Calculation Summary


FCM Availability Penalties and Credits Calculation Summary

FERC EQR

The positive net of FCM Credits for both Supply (Generation and Imports) and Demand Resources is reported on the SP_EQR report issued to the Lead Market Participant for the Resource, available on a monthly basis one month after the given settlement, as referenced in the FERC EQR mapping line item Forward Capacity Market - FCM Net Supply Credit.

Additional Related Materials


ISO News Issue 191 - ISO New England to Release New Daily Financial Position Report

  Copyright ©2014 ISO New England Inc.