ATLANTA, Ga., Sept. 27, 2001 — ISO New England recently began a regionwide load response program for utilities, electric suppliers, and their customers — made possible with a load management Internet application.
The technology helps energy companies and customers monitor and respond to real-time energy prices — enabling better control over energy costs, enhancing efficiency and conservation, and boosting reliability.
ISO New England Inc., which operates that region’s bulk electric power grid, was able to put its new load response program to good use during late July when the temperature and humidity shot up to unseasonably high levels and electricity costs rose to more than $100 a megawatt hour. For several hours during July 24 and 25th, in fact, energy prices reached the price cap of $1,000 a megawatt hour.
When prices soar to such levels, it becomes economically attractive for power customers to displace load and get paid for relieving the grid of some power requirements. With ISO New England’s program, regional commercial customers can get paid for reducing energy consumption during peak periods.
The technology that makes this possible is a dynamic Internet application called Load Management Dispatcher (LMD), developed and supplied by RETX of Atlanta. The software enables customers to monitor and react to real-time energy prices, voluntarily curtail their power usage, or even sell back the amount of energy they did not use to ISO New England. LMD also offers efficient load curtailment management, an opportunity to profit from market volatility, and simultaneous monitoring of energy market price and commercial customers’ usage in near-real time.
The technology and its potential impact on energy companies is featured in the current issue of Energy Competition Strategy Report, published by Atlanta-based NHI Publications.