In an appearance before the NEPOOL Participants Committee, ISO-NE CEO Gordon van Welie discussed his recent testimony at the U.S. House Energy and Commerce Subcommittee on Energy.

New England energy market revenues increased by roughly 150% in the winter of 2024/25 compared to the prior winter.

ISO-NE’s total energy market value reached about $1 billion in December — more than double the total value of the market in December 2024 — due to lower temperatures and increased natural gas prices.

FERC Commissioner Judy Chang emphasized the importance of demand response, long-term transmission planning and gas-electric coordination in her address to the NEPOOL Participants Committee meeting.

ISO-NE projects shortfall risks from extreme weather events to be manageable this winter and expects market mechanisms to provide relief by encouraging fuel conservation and replenishment.

The RTO will next year focus on capacity auction reforms, establishing a regional energy shortfall threshold, complying with FERC orders 1920 and 2023, and implementing market and technology improvements.

Despite above-average temperatures, the ISO-NE energy market value was down slightly in July 2024 relative to July 2023, ISO-NE COO Vamsi Chadalavada said at the NEPOOL Participants Committee meeting.

NEPOOL held its annual summer Participants Committee meeting in New Hampshire during a multiday stretch of extreme heat and high demand on the New England grid.

ISO-NE’s proposed resource capacity accreditation updates would result in an estimated 11% increase in capacity market revenues, the RTO told the NEPOOL Markets Committee.