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The New York Independent System Operator Inc., a not-for-profit regional transmission owner, is responsible for operating New York's bulk electrical grid, administering the state's wholesale electricity markets, maintaining grid stability, and ensuring the reliability and planning of the state's bulk energy system.
A roundup of FERC's orders issued at the commission's open meeting Sept. 19, 2019.
NYISO
The NYISO Business Issues Committee approved several manual and Tariff revisions, and received the monthly Broader Regional Markets and operations reports.
NYISO congestion costs surged in the second quarter despite lower electricity prices, gas price spreads and load levels, the Market Monitoring Unit said.
NYISO said several of its market design projects are behind schedule, leading some to question whether it has taken on more initiatives than it can handle.
The New York PSC kicked off a proceeding to examine how to reconcile NYISO’s resource adequacy programs with the state’s renewable energy and carbon goals.
NYISO
NYISO approved manual changes to accommodate a new penalty scheme to improve the ISO’s ability to call on external capacity resources.
The Analysis Group will delay the release of a carbon pricing study expected to be completed this month, CEO Rich Dewey told the Management Committee.
Consolidated Edison’s second-quarter earnings fell by 19% to $152 million compared to the same period last year, despite an increase in revenue.
Avangrid reported second-quarter earnings of $110 million ($0.36/share), up slightly from $107 million ($0.35/share) in the same period in 2018.
A $63/ton carbon price could drive New York state's clean energy penetration to as high as 64% of the state’s resource mix by 2025.
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