NYISO Releases Power Trends 2023: A Balanced Approach to a Clean and Reliable Grid

RENSSELAER, NY (06/07/2023) (readMedia)-- Rensselaer, NY – The New York Independent System Operator (NYISO) today released Power Trends 2023: A Balanced Approach to a Reliable Grid, detailing the most important issues impacting reliability of the electric system during the grid in transition.

Power Trends is the company's annual "state of the grid" report. This year's edition of Power Trends discusses the impacts of increasing electrification adoption, retirements of traditional fossil-fuel based generation, and the acute need for investment in new resources to continue to balance load and supply.

"As Power Trends discusses, it is imperative that during this time of rapid change, we ensure adequate supply necessary to meet a growing demand for electricity. Preserving electric system reliability has been our top priority," said Rich Dewey, President and CEO of the New York Independent System Operator. "As new resources transform the way the system performs, this commitment will remain."

Power Trends discusses the key clean energy policies impacting how electricity is produced, transmitted, and used in New York, including the Climate Leadership and Community Protection Act (CLCPA), which requires an economy-wide approach to addressing climate change and decarbonization, and the state's "Peaker Rule," – emissions regulations that impact approximately 3,300 megawatts of fossil fuel generation in the downstate region. Power Trends highlights how in order to achieve the state's ambitious climate policies, new clean energy generation and transmission projects will need to develop at a pace commensurate with the retirement of existing fossil fuel generation.

Key messages in Power Trends 2023 include:

• Public Policies are driving rapid change in the electric system in the state, impacting how electricity is produced, transmitted, and consumed.
• Reliability margins are shrinking. Electrification programs are driving demand for electricity higher. Generators are retiring at a faster pace than new renewable supply is entering service. The potential for delays in construction of new supply and transmission, higher than forecasted demand, and extreme weather could threaten reliability and resilience to the grid.
• Driven by public polices, new supply, load and transmission projects are seeking to interconnect to the grid at record levels. NYISO's interconnection process balances developer needs with grid reliability. Efforts are underway to make this process more efficient while protecting grid reliability.
• To achieve the mandates of the CLCPA, new emission-free supply with the necessary reliability services will be needed to replace the capabilities of today's generation. Such new supply is not yet available on a commercial scale.
• New wholesale electricity market rules are supporting the grid in transition. These markets are critical for a reliable transition.

To learn more, read the complete Power Trends 2023 report:

https://www.nyiso.com/documents/20142/2223020/2023-Power-Trends.pdf/

Visit the Power Trends 2023 webpage to download additional materials:

https://www.nyiso.com/power-trends