News Digest

Transmission & ISOs

Market Monitoring. Less than one month after it found anticompetitive behavior and asked to suspend trading in its own market for 10-minute nonspinning reserves, the New York Independent System Operator filed "Addendum A" to its Market Monitoring Plan, listing thresholds and cutoff points it will use to identify market abuses.

However, the ISO said it would impose mitigation measures only for conduct deemed "significantly inconsistent" with competition. That means conduct that produces a "material change" in either prices or guaranteed production cost payments in New York power markets. It defined "material change" as an increase of 200 percent (or $100 per megawatt-hour) in the hourly day-ahead or real-time locational marginal price (LMP) of energy at any location, or a 200 percent increase in daily guaranteed payments owed to a market participant.

Overall, the ISO will monitor three types of conduct related to power production or bidding. It offered examples for each type, along with threshold levels used to identify suspicious conduct: