ISO New England and the New England Power Pool (NEPOOL) received conditional approval from FERC to transact at market-based rates.
“We appreciate the FERC`s efforts to permit the implementation of the markets system. This order brings us closer to the goal of market-based rates for electricity services in a fair and open market for the New England region,” said Richard M. Chapman, NEPOOL executive committee chairman.
ISO New England and NEPOOL conducted the first trial run, or Mock Market, under these proposed market rules and rates in early November. Problems with the Internet-based markets bidding and settlement systems identified in that trial run are currently being addressed.