Regulation is an ancillary market service provided by resources equipped for automated generation control. These resources are placed under automatic control by ISO New England on the basis of their regulation supply offers, and they respond to signals sent every four seconds to match minute-to-minute changes in the New England load.
Market participants with an ownership share in a resource that provides regulation will receive credits for the service. The regulation payments to resources include regulation service, regulation capacity, and regulation make-whole cost. Additionally, a regulation up reserve charge is calculated when a resource is providing both regulation and reserves to prevent double compensation.
Regulation capacity credit, regulation service credit, and regulation make-whole cost payment are allocated to participants as regulation charge. These credits are allocated as charges to market participants with real-time load obligation, excluding coordinated external transactions and Real-Time Load Obligation for DARDs.
The hourly services bill contains a single line item netting charges and credits entitled "Regulation."
BL_DAILYPOSITION—Daily financial position, including all market service settlements and miscellaneous billing adjustments generated daily, issued to all active customers registered as a participant or nonparticipant
SD_REGHRLYDTL—Hourly detail of the regulation service and credits of a participant’s resources, issued upon settlement of the market day
SD_REGDTL5MIN—Five-minute detail of the regulation credits and charges calculations, by resource, issued upon settlement of the market day
SR_REGSUMMARY—Summary of participant and pool regulation charges and credits, by hour, issued upon settlement of the market day
Regulation is reported on the SP_EQR report, available monthly one month after the given settlement, as referenced in line items prefaced with the title “Regulation” in ISO-NE Settlements to FERC EQR Product Mapping.