Before submitting an external transaction in New England, market participants interested in moving power from, into, out of, or through ISO New England must complete Open Access Same-Time Information System (OASIS), New England External Transaction Tool (NEXTT), and Electric Industry Registry (EIR) Registration.
A market participant must have a Transmission Service Agreement with the transmission service provider it must purchase the service from. Visit the Transmission Service Applications page to learn more.
Participants are charged for transaction units (TUs) and volumetric measures (VMs) per the rates defined in Schedule 2 of the ISO Self-Funding Tariff (Section IV.A of the ISO Tariff). Transaction units accrue for each hour an external contract is in place. Volumetric charges accrue for the megawatt-hours of real-time load obligations (RTLOs) or real-time generation obligations (RTGOs) associated with exports and imports, respectively. The monthly detail of a participant’s TU and VM values are provided in the MIS report TR_SCH2DT, and the monthly charges are described in the MIS report TR_SCH2TP.
Additionally, a participant will accrue one TU for every hour in the month when its spot market energy settlement is not zero; that is, when the net of the participant’s RTLO and RTGO is not zero. Although this charge is not specific to external transactions, the RTLO and RTGO megawatt-hours associated with external transactions are part of this determination.
Participants are charged for their export megawatt-hours per the rate in Schedule 3 of the ISO Self-Funding Tariff (Section IV.A of the ISO Tariff). The monthly detail of charges is provided to participants in the MIS Report TR_SCH3P2.
Transmission customers who are not participants are charged a fee for all external transaction reservations. The current rates for all Schedule 2 and 3 charges are also available on the Tariff Rates page.
The New England External Transaction Tool (NEXTT) application is the software used to submit external transactions into the ISO New England market system. The NEXTT User Guide, Tasks Section, introduces the functionality and structure of the application and details how to transact specific business tasks associated with external transactions within the ISO’s market place. The NEXTT User Guide, Reference Section, explains the general concepts for using the application.
Users are encouraged to adjust their eTag first and then submit the corresponding modification to the NEXTT transaction.
When the participant requests an adjustment to the eTag, the status of that eTag modification will be “Pending.” Because NEXTT only recognizes the “current” eTag, the pending adjustment is not yet part of the current eTag, which will not match the modified, pending eTag or NEXTT transaction. As a result, the requested schedule change in NEXTT will receive a Pending Action status.
A participant does not need to resubmit the NEXTT schedule after the eTag adjustment has been implemented. NEXTT will periodically monitor the status of requested changes to the eTag. Once the eTag adjustment has been implemented, NEXTT will validate the eTag against the portion of the NEXTT schedule that had been modified.
If the modified profiles match, and there are no other errors, the status in NEXTT will become “Preapproved;” otherwise, the status will remain as Pending Action. This process will not affect any portion of a transaction that the ISO previously approved.
Because this process depends on bridges running between multiple ISO and non-ISO systems, the ISO recommends that users monitor the transaction to ensure that the process has completed successfully.
Any intervals of a NEXTT real-time transaction not in the Approved status after the autovalidation occurs at the market deadline will be denied. The ISO will continue to evaluate all future intervals on the transaction.
After the ISO issues a Minimum Generation Emergency Warning, any real-time market import transactions that did not clear in the ISO’s day-ahead market are subject to being reduced. If a Minimum Generation Emergency is declared, both internal generation and external transactions that have cleared the day-ahead market will be used to resolve the emergency condition.
If ISO New England projects that the scheduling of real-time export transactions may create or worsen a capacity deficient condition, any export transactions submitted to the real-time market only are subject to being reduced before other export transactions that cleared the day-ahead market. The ISO will issue a special notice to its website when it takes this action to reduce export transactions. If ISO New England declares Operating Procedure No. 4: Action during a Capacity Deficiency (OP 4), transactions that cleared the day-ahead market will be reduced, as defined within the ISO’s Manual for Market Operations, Manual 11, and OP 4 to mitigate the emergency condition.
Before reducing any export transactions that have cleared the day-ahead market, ISO New England will attempt to schedule all priced import transactions. To the extent that priced import transactions supporting an import capacity resource are not available to be scheduled, they may be assigned a “Failure-to-Deliver” penalty.
Ramp limits are not enforced in the ISO New England Day-Ahead Energy Market. The ISO typically enforces a systemwide ramp limit of 500 MW across the top of any hour. The ISO resolves ramp constraints that occur in the Real-Time Energy Market using the process defined in Appendix B of ISO New England Operating Procedure No. 9: Scheduling and Dispatch of External Transactions (OP 9). The ISO takes these actions to maintain the 500 MW ramp limit during the next-hour scheduling process. Because changes can occur during the next-hour scheduling process after actions have been taken to mitigate a ramp, the resulting change in systemwide net interchange between two hours can be greater or less than 500 MW, even though the ISO ramp limit is 500 MW. Generally, ISO actions consider what transactions have a direct impact on the ramp constraint and whether or not these transactions have cleared the ISO New England Day-Ahead Energy Market.
For each five-minute interval, the ISO determines the cost associated with inadvertent flow across the interfaces with external control areas (i.e., New York, New Brunswick, Hydro-Québec). The megawatt-hours of inadvertent flow can be in the import or export direction and equals the difference between the total of any scheduled contracts at the interface and the actual metered flow in the interval. The value for the megawatt-hours of inadvertent flow is multiplied by the interface nodal LMP for the interval to determine the interface cost adjustment. The cost adjustments for all the interfaces are summed together to determine the total external inadvertent cost for the interval.
The allocation of the total external inadvertent cost to all participants is pro rata based on their total real-time load obligations (RTLOs) and real-time generation obligations (RTGOs) for the interval, excluding coordinated external transactions (CET). Note that the external inadvertent cost is not assigned to any specific external transaction; however, any participant that has external transaction activity is subject to an inadvertent cost adjustment for the interval by virtue of either or both its RTLO or RTGO associated with its external transactions, excluding CET.
References:
The New England External Transaction Tool (NEXTT) application is the software used to submit external transactions into the ISO New England market system. The NEXTT User Guide, Tasks Section, introduces the functionality and structure of the application and details how to transact specific business tasks associated with external transactions within the ISO’s market place. The NEXTT User Guide, Reference Section, explains the general concepts for using the application.
Coordinated transaction scheduling (CTS) refers to enhanced scheduling procedures designed to improve the efficiency of wholesale electricity trading between ISO New England and the New York ISO. CTS allows a market participant to submit a unified real-time bid (interface bid) to simultaneously purchase and sell energy on each side of a CTS-enabled external interface, with the bid price indicating the price difference between the two regions that the participant is willing to accept. Read the press release. Coordinated economic clearing between the two regions facilitates the flow of power from the region with the lower LMP to the region with the higher LMP.
A coordinated external transaction (CET) is an external transaction at the Roseton interface, where CTS is enabled. A cleared interface bid results in an import (or export) in the New England Control Area and an export (or import) in the New York control area.
A transaction to wheel energy into, out of, or through the New England Control Area is not a CET. CETs are scheduled at 15-minute intervals and are exempt from cost allocations. (See pages 5–6 and 52–59 of Coordinated Transaction Scheduling (CTS) Training for additional information.)
Coordinated transaction scheduling (CTS) and use of the JESS application was implemented with the CTS project December 15, 2015. Please refer to the webinar recordings and training materials on the ISO-NE website and the New York ISO CTS-New England Overview training for additional project information.
Learn how to register for NEXTT and get access to JESS.
To be able to see and use JESS, you must first register for NEXTT, which also grants access to JESS, and create a JESS password. See the instructions.
JESS is available:
See the New York ISO Market Access Login webpage for the most current version of the JESS user guide.
Transactions submitted into JESS and the corresponding real-time scheduling results can only be viewed in JESS and are not visible in the ISO-NE EES software. The ISO-NE settlement reports contain the applicable megawatt amount.
They need to either submit or confirm RTM transactions in JESS.
If a previously confirmed bid is modified by either party, the counter-party must confirm the modification prior to market close. The previously confirmed bid is no longer considered valid if a change to the bid is made. If the modification is not confirmed, NO BID is considered in the real-time market.
No. You can create a “trust relationship” with a NYISO market participant. Once you have ”trusted” a NYISO market participant, any transaction they submit referencing your company will be automatically approved.
The only special exception present in NEXTT that is relevant on the CTS interface in JESS is the GIS ID. There is a corresponding field in JESS for this information. Users cannot use the import capacity resource special exception on a JESS transaction.
No. The new requirements to submit the e-tag ID and import capacity resource ID with a day-ahead market transaction can occur in the existing file upload format.
With CTS, the Real-Time Energy Market transactions at the Roseton node are settled in 15-minute intervals, with the results rolled up to the hourly level. As of March 1, 2017, the transactions at the Roseton node are reported in settlement at the five-minute interval level; each 15-minute scheduled interval is shown as its three five-minute interval components. (See slide 55 of the CTS training, slides 20–21 of the Settlements Issues Forum Q4 2016 presentation, and FAQs: Real-Time Energy Market.)
Additionally, coordinated external transactions (CETs) are not eligible for NCPC payments and are excluded from charge allocations for the following markets (see the CTS training):
No, they are not subject to any NCPC charge allocation. This specific case, which is a result of cleared counterflow in the Day-Ahead Energy Market, does not apply at a CTS location. Instead, the LMP at the CTS location includes congestion costs that reflect the binding constraints at the external node. For example, a fixed day-ahead market import at the CTS location could settle at a negative locational marginal price, resulting in a charge for the day-ahead market import. (Learn more about NCPC charges.)
