NYISO Strategic Plan: Building Markets for the Future
RENSSELAER, NY (01/12/2018) (readMedia)-- With technology and rapid change transforming the energy industry and placing new demands on the electric grid, the New York Independent System Operator (NYISO) today released a multi-year strategic plan focused on addressing these new dynamics with precision and innovation.
The 2018-2022 Strategic Plan provides a clear vision on the way forward as industry transformation and public policy goals are redefining the power system and competitive wholesale markets. Working in close coordination with Market Participants, Stakeholders, policy makers and regulators, the NYISO remains committed to being a leader in reliability, market design and technological innovation.
"Our Strategic Plan reflects an approach of continuous adaptation to shifting market dynamics, and a different industry paradigm," said NYISO President and CEO Brad Jones. "It reaffirms our commitment to enhancing our markets, operations, and planning activities in ways that will best position the NYISO for the future."
Over the next five years, the NYISO will lead efforts in the following areas:
• Integration of Distributed Energy Resources
o The NYISO will develop the tools needed to plan and operate the bulk power system in an environment that includes greater levels of distributed energy resources (DER). The NYISO market design will drive changes that support the integration of new resource types.
• Technology & Infrastructure Investment
o The NYISO will position itself to manage the increasingly complex systems required to run New York's bulk power system and wholesale markets. The upgrade of the Energy Management and Business Management Systems (EMS/BMS) is a substantial effort requiring the commitment of resources across the organization.
• Integration of Public Policy
o The NYISO will assume a pivotal role in the integration of public policy objectives while taking appropriate steps to ensure that such efforts complement open, fair and competitive markets.
• Reliability through Markets
o The NYISO will enhance its energy and capacity markets to maintain system reliability and operate efficient wholesale power markets. Market signals must align with system reliability needs in order to have effective resource responses in the short-term and to encourage investment when and where it is needed over the long term.?
• Sustainable Business Model
o The NYISO will position itself to operate increasingly complex systems in an environment of rising cost pressure. The NYISO will address the costs associated with meeting these challenges by identifying cost drivers and taking steps to reduce those that can be managed.
The Strategic Plan serves as the foundation for the NYISO's annual Business Plan, which establishes business and project priorities for the year to come. The plan is based on the NYISO Board of Directors' review of financial and regulatory outlooks, as well as the economic and environmental factors affecting Market Participants and Stakeholders. It accounts for market and regulatory trends that will shape the industry going forward, and positions the NYISO's markets, planning processes, and operational practices for changes in the energy industry landscape.
With a strong focus on financial discipline, the NYISO remains committed to market transparency and to its role as a leader in grid reliability, market design and performance. The NYISO maintains robust planning processes; fosters technological innovation; and serves as an independent, objective and authoritative source of information for policy makers, Market Participants and consumers.
A copy of the plan is available on the NYISO website – www.nyiso.com.