Gavin Bade, Utility Dive
Real-time power prices topped $2600/MWh in ISO-New England on Monday after unplanned generation outages and higher-than-expected power demand from a Labor Day heatwave triggered emergency procedures from the grid operator.
ISO-NE accessed emergency generation reserves and imported power from surrounding regions on Monday to meet demand, said spokesperson Marcia Blomberg. The grid operator did not issue a request for voluntary power conservation.
The high prices come as ISO-NE works to revamp its capacity market to value resources with uninterruptible fuel supplies. Large generators that the ISO says are essential to maintain reliability warn they may go offline if they do not get compensated for the attribute