Midcontinent Independent System Operator (MISO) successfully completed its second annual planning resource auction under its enhanced resource adequacy construct this week. The auction covered the 2014-15 planning year clearing 136,912 MW of planning resources from nine local resource zones to meet MISO’s system-wide and zonal planning reserve margin requirements.
This year’s auction produced three auction-clearing prices for the 2014-15 planning year.
· Zone 1 (Minnesota, North Dakota and Western Wisconsin) cleared at $3.29 per MW-day driven by the zone’s capacity export limitations
· Zones 2-7 (Upper Michigan, Eastern Wisconsin, Iowa, Missouri, Indiana, Illinois, Kentucky and Lower Michigan) cleared at $16.75 per MW-day
· Zones 8 and 9 (Arkansas, Louisiana, Mississippi and Texas) cleared at $16.44 per MW-Day as constraints related to expected intra-RTO dispatch ranges bound between the MISO South and the MISO Central/North Regions
Results of the auction indicate an excess of 12,201 MW resource credits above the system’s need to meet forecasted demand during the 2014-15 planning year, despite increases to MISO’s planning reserve margin and increases in coincident peak forecasts.
Cleared planning resources include 124,556 MW of power generation resources, 3,743 MW of behind-the-meter generation, 5,457 MW of demand response, and 3,156 MW of external resources.