Pilgrim retires, prices decline: What happened in the ISO-NE FCA 10 auction?

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Pilgrim retires, prices decline: What happened in the ISO-NE FCA 10 auction?
By George Katsigiannakis and Shanthi Muthiah

On February 11th 2016, ISO-NE concluded its 10th Forward Capacity Auction (FCA). This was the second auction under the re-designed capacity market structure that includes an ISO-wide demand curve (variable reserve requirement or VRR) and the pay for performance initiative. Prices in this auction declined due to significant new capacity additions that bid at lower than expected prices.

In this white paper, ICF International experts analyze the results of this latest ISO-NE capacity auction, including key outcomes of the auction, changes from the previous auction, ICF’s explanation of the results and going-forward expectations.

Meet the authors
  1. George Katsigiannakis, Vice President, Energy Power Markets

    George is an expert in U.S. electricity markets with a deep understanding of all factors affecting U.S. wholesale electric markets including market design, environmental regulations, fuel markets, transmission, renewable, energy efficiency, and demand side management. View bio

  2. Shanthi Muthiah, Managing Director and Senior Vice President, Energy Advisory

    Shanthi leads our energy advisory practice which has helped clients deploy billions of dollars in investments in the energy sector. View bio