Per its Sub Hourly Settlements (SHS) Project, ISO New England adapted the settlement interval from hourly to every 5-minutes to encourage quicker responses to dispatch instructions.
The alignment of real-time dispatch instruction and pricing intervals resulted in generators, load resources and external transactions to settle at 5-minutes for Real-Time Energy, Regulation, Reserve and Net Commitment-Period Compensation Charges (NCPC). The transition to 5-minute settlement interval went live on March 1, 2017.
The 5-minute regulation capacity and regulation service settlement went live on Dec 1, 2017. At that time, ISO-NE made revisions to the MIS report descriptions, templates and sample files for the following reports (complete details can be found on the MIS Report Descriptions, Templates, and Samples web page):
- SD_REGDTL: Retired, effective 12.01.2017
- SR_REGSUM: Retired, effective 12.01.2017
- SD_REGDTL5MIN: Modified, effective 12.01.2017
- SD_RTNCPCGEN5MIN: Modified, effective 12.01.2017
- SD_REGHRLYDTL: New, effective 12.01.2017
- SR_REGSUMMARY: New, effective 12.01.2017
PCI is pleased to help our clients with this transition by releasing the GenManager Bid-to-Bill System, with the 5-Minute Regulation functionality, ahead of the go-live. Our Northeast Products Development Group will continue to post updates on this News Flash section of our blog (in addition to alerting clients directly via email). Please feel free to bookmark the blog site and/or, click on the RSS icon at the bottom right of any blog page to copy it to your news feed. This will allow you to automatically be alerted when new posts come into PCI’s blog.