NYISO Releases Policy Brief Highlighting the Power of Markets to Attract Investment in Renewable Generation

RENSSELAER, NY (03/28/2024) (readMedia)-- The New York Independent System Operator (NYISO) has released a policy brief, How Competitive Electricity Markets Power New York State's Clean Energy Goals. The paper discusses the power of competitive wholesale electricity markets to attract investment in cutting-edge renewable resources while maintaining system reliability. The NYISO is the independent, not-for-profit administrator of wholesale electric markets.

Competitive markets for energy, capacity, and ancillary grid services incentivize investment in resources on the electric system where they are most needed to serve growing demand. Distinct from state sponsored programs, competitive electric markets also place investment risks on developers and investors, not consumers. The brief highlights the NYISO's 25-year record of administering competitive electric markets that incentivize innovation in energy resources and reduce emissions at the lowest costs to consumers.

Through its shared governance process the NYISO has several market design innovations underway to support the grid of the future. Enhancements covered in the policy brief include:

• Winter reliability capacity enhancements
• Dynamics reserves to balance intermittency
• Advanced storage modeling

Rana Mukerji, NYISO's Senior Vice President of Market Structures, said, "For 25 years, competitive electric markets have supported reliability, driven down emissions and spurred innovation. The power of competitive markets must be a focus to attract and retain new resources on the system that will help us reach our state and federal clean energy goals."

Download the policy brief: How Competitive Electricity Markets Power New York State's Clean Energy Goals

Download the fact sheet: NYISO Market Initiatives to Support a Reliable, Greener Grid

About the New York ISO

The New York Independent System Operator (NYISO) is a not-for-profit corporation responsible for operating the bulk electricity grid, administering competitive wholesale electricity markets, conducting comprehensive long-term planning, and advancing the technological infrastructure of the electric system serving the Empire State.