The Forward Capacity Auction (FCA), resources have three annual opportunities to acquire or shed all or part of their capacity supply obligations (CSOs) before the capacity commitment period (CCP) begins. In each of these three annual opportunities, resources trade CSOs for the entire CCP in conjunction with the opportunity to enter into annual reconfiguration transactions. For each CCP, 24 additional monthly events, as follows, are held for a given CCP that allow resources to trade CSOs for a single month; these monthly events occur approximately two months in advance of the obligation month. In total, a given CCP includes the following:
The general timeline for FCM events for a single CCP is shown below. The specific dates can be found in the FCA calendars.
Both CSO bilateral periods and reconfiguration auctions offer opportunities for resources to increase or decrease their CSOs. In both cases, a resource can only increase its CSO, as follows, if its qualified capacity is greater than its existing CSO: