NYISO Tariffs --> Market Administration and Control Area Services Tariff (MST) --> 15 MST Rate Schedules --> 15.4 MST Rate Schedule 4 - Payments for Supplying Operating
This Rate Schedule applies to payments to Suppliers that provide Operating Reserves to the ISO. Transmission Customers will purchase Operating Reserves from the ISO under Rate Schedule 5 of the ISO OATT.
The ISO shall procure on behalf of its Customers a sufficient quantity of Operating Reserve products to comply with the Reliability Rules and with other applicable reliability standards, as well as Scarcity Reserve Requirements. These quantities shall be established under Section 15.4.7 of this Rate Schedule for locational Operating Reserve requirements and Section 15.4.6.2 of this Rate Schedule for Scarcity Reserve Requirements. To the extent that the ISO enters into Operating Reserve sharing agreements with neighboring Control Areas its Operating Reserves requirements shall be adjusted as, and where, appropriate.
The ISO shall define requirements for Spinning Reserve, which may be met only by Suppliers that are eligible, under Section 15.4.1.2 of this Rate Schedule, to provide Spinning Reserve; 10-Minute Reserve, which may be met by Suppliers that are eligible to provide either Spinning Reserve or 10-Minute Non-Synchronized Reserve; and 30-Minute Reserve, which may be met by Suppliers that are eligible to provide any Operating Reserve product. The ISO shall also define locational requirements for Spinning Reserve, 10-Minute Reserve, and 30-Minute Reserve located East of Central-East, in Southeastern New York, in New York City, and on Long Island. In addition to being subject to the preceding limitations on Suppliers that can meet each of these requirements, the requirements for Operating Reserve located East of Central-East may only be met by eligible Suppliers that are located East of Central-East, requirements for Operating Reserve located in Southeastern New York may only be met by eligible Suppliers that are located in Southeastern New York, requirements for Operating Reserve located in New York City may only be met by eligible Suppliers that are located in New York City, and requirements for Operating Reserve located on Long Island may only be met by eligible Suppliers located on Long Island. Each of these Operating Reserve requirements shall be defined consistent with the Reliability Rules and other applicable reliability standards. The ISO shall also establish Scarcity Reserve Requirements in the Real-Time Market pursuant to Section 15.4.6.2 of this Rate Schedule, which may be met by Suppliers eligible to provide 30-Minute Reserve. Scarcity Reserve Requirements may only be met by eligible Suppliers that are located in the Scarcity Reserve Region associated with a given Scarcity Reserve Requirement. The ISO shall select Suppliers of Operating Reserves products to meet these requirements, including the locational Operating Reserves requirements and Scarcity Reserve Requirements, as part of its overall co-optimization process.
The ISO shall select Operating Reserves Suppliers that are properly located electrically so that all locational Operating Reserves requirements determined consistently with the requirements of Section 15.4.7 of this Rate Schedule and Scarcity Reserve Requirements determined consistently with the requirements of Section 15.4.6.2 of this Rate Schedule are satisfied, and so that transmission Constraints resulting from either the commitment or dispatch of Generators do not limit the ISO’s ability to deliver Energy to Loads in the case of a Contingency. The ISO will ensure that Suppliers that are compensated for using Capacity to provide one Operating Reserve product are not simultaneously compensated for providing another Operating Reserve product, or Regulation Service, using the same Capacity (consistent with the additive market clearing price calculation formulae in Sections 15.4.5.1 and 15.4.6.1 of this Rate Schedule).
The ISO shall enforce the following criteria, which define which types of Suppliers are eligible to supply particular Operating Reserve products.
Suppliers that are ISO Committed Flexible or Self-Committed Flexible, are operating within the dispatchable portion of their operating range, are capable of responding to ISO instructions to change their output level within ten minutes, and that meet the criteria set forth in the ISO Procedures shall be eligible to supply Spinning Reserve (except for Demand Side Resources that are Local Generators not utilizing inverter-based energy storage technology and Behind-the-Meter Net Generation Resources that are comprised of more than one generating unit and dispatched as a single aggregate unit). Suppliers utilizing inverter-based energy storage technology, and that meet the criteria set forth in the ISO Procedures, shall be eligible to supply Spinning Reserve when withdrawing or injecting Energy, and when idle.
(i) Off-line Generators that are capable of starting, synchronizing, and increasing their output level within ten (10) minutes; (ii) Behind-the-Meter Net Generation Resources that are comprised of more than one generating unit and dispatched as a single aggregate unit that are capable of increasing their output level within ten (10) minutes; and (iii) Demand Side Resources that are capable of reducing their Energy usage within ten (10) minutes, that meet the criteria set forth in the ISO Procedures shall be eligible to supply 10-Minute Non-Synchronized Reserve.
(i) Generators, except Behind-the-Meter Net Generation Resources that are comprised of more than one generating unit and dispatched as a single aggregate unit, that are ISO-Committed Flexible or Self-Committed Flexible and operating within the dispatchable portion of their operating range and Demand Side Resources that do not facilitate demand reduction using Local Generators, or that facilitate demand reduction using a Local Generator utilizing inverter-based energy storage technology, that are capable of reducing their Energy usage within thirty (30) minutes shall be eligible to supply synchronized 30-Minute Reserves. Suppliers utilizing inverter-based energy storage technology, and that meet the criteria set forth in the ISO Procedures, shall be eligible to supply synchronized 30-Minute Reserves when withdrawing or when injecting Energy, and when idle; (ii) Off-line Generators that are capable of starting, synchronizing, and increasing their output level within thirty (30) minutes; (iii) Behind-the-Meter Net Generation Resources that are comprised of more than one generating unit and dispatched as a single aggregate unit that are capable of increasing their output level within thirty (30) minutes; and (iv) Demand Side Resources that are capable of reducing their Energy usage within thirty (30) minutes, that meet the criteria set forth in the ISO Procedures shall be eligible to supply non-synchronized 30-Minute Reserves.
Shall not be eligible to provide any kind of Operating Reserve.
All Suppliers of Operating Reserve must be located within the NYCA and must be under ISO Operational Control. Each Supplier bidding to supply Operating Reserve or reduce demand must be able to provide Energy or reduce demand consistent with the Reliability Rules and the ISO Procedures when called upon by the ISO.
All Suppliers that are selected to provide Operating Reserves shall ensure that their Resources maintain and deliver the appropriate quantity of Energy, or reduce the appropriate quantity of demand, when called upon by the ISO during any interval in which they have been selected.
Generators or Demand Side Resources that are selected to provide Operating Reserve in the Day-Ahead Market or any supplemental commitment may increase their Incremental Energy Bids or Demand Reduction Bids, respectively, for portions of their Resources that have been scheduled through those processes; provided however, that they are not otherwise prohibited from doing so pursuant to other provisions of the ISO’s Tariffs. Withdrawal-Eligible Generators that are scheduled to withdraw Energy, and that are selected to provide Operating Reserve in the Day-Ahead Market or any supplemental commitment, may decrease their Bids to withdraw Energy for portions of their resources that have been scheduled through those processes; provided however, that they are not otherwise prohibited from doing so pursuant to other provisions of the ISO’s Tariffs. Generators or Demand Side Resources that are selected to provide Operating Reserve in the Day-Ahead Market or any supplemental commitment may not, however, reduce their Day-Ahead Market or supplemental commitments in real-time except to the extent that they are directed to do so by the ISO. Generators and Demand Side Resources may enter into alternate sales arrangements utilizing any Capacity that has not been scheduled to provide Operating Reserve.
Resources capable of providing Spinning Reserve, 10-Minute Non-Synchronized Reserve and/or 30-Minute Reserve in the Day-Ahead commitment may submit Availability Bids for each hour of the upcoming day. If a Supplier offers Resources that are capable, based on their indicated commitment status, of providing Operating Reserves but does not submit an Availability Bid, its Day-Ahead Bid will be rejected in its entirety. A Supplier may resubmit a complete Day-Ahead Bid, provided that the new bid is timely.
The ISO may schedule Suppliers that make themselves available to provide Operating Reserves up to the following maximum Operating Reserve levels: (i) for Spinning Reserves, the least of the Resource’s emergency response rate multiplied by ten, or the Resource’s applicable Upper Operating Limit (i.e., UOLN, UOLE); (ii) for 10-Minute Non-Synchronized Reserves, or for non-synchronized 30-Minute Reserves, the Resource’s UOLn or UOLe, whichever is applicable at the relevant time (the Resource may offer one product or the other depending on the time required for it to start-up and synchronize to the grid; and (iii) for synchronized 30-Minute Reserves, the least of the Resource’s emergency response rate multiplied by twenty and its applicable Upper Operating Limit.
However, the sum of the amount of Energy or Demand Reduction a Resource is scheduled to provide, the amount of Regulation Service it is scheduled to provide, and the amount of each Operating Reserves product it is scheduled to provide shall not exceed its UOLn or UOLe, whichever is applicable.
For an Energy Storage Resource that is withdrawing Energy, the sum of the Resource’s Energy Schedule, the amount of Regulation Capacity it is scheduled to provide, and the amount of Operating Reserves product it is scheduled to provide shall not exceed its Upper Operating Limit.
The ISO shall select Operating Reserve Suppliers for each hour of the upcoming day through a co-optimized Day-Ahead commitment process that minimizes the total bid cost of Energy, Operating Reserves and Regulation Service, using Bids submitted pursuant to Section 4.2 of, and Attachment D to, this ISO Services Tariff. As part of the co-optimization process, the ISO shall determine how much of each Operating Reserves product particular Suppliers will be required to provide in light of the Reliability Rules and other applicable reliability standards, including the locational Operating Reserves requirements specified above.
The ISO shall notify each Operating Reserve Supplier that has been selected in the Day-Ahead Market of the amount of each Operating Reserve product that it has been scheduled to provide.
Suppliers that are scheduled Day-Ahead to provide Operating Reserves shall either provide Operating Reserve, Energy or Demand Reductions in real-time when scheduled by the ISO in all hours for which they have been selected to provide Operating Reserve and are physically capable of doing so. However, Suppliers that are scheduled Day-Ahead to provide Operating Reserves and have startup periods of two hours or less may advise the ISO no later than three hours prior to the first hour of their Day-Ahead schedule that they will not be available to provide Operating Reserves or Energy in real-time under normal conditions. Such Suppliers will be required to settle their Day-Ahead schedule at real-time prices pursuant to Section 15.4.6.3 of this Rate Schedule. The only restriction on Suppliers’ ability to exercise this option is that all Suppliers with Day-Ahead Operating Reserves schedules must make the scheduled amount of Capacity available to the ISO for dispatch in the RTD if the ISO initiates a Supplemental Resource Evaluation.
The ISO will automatically select Operating Reserves Suppliers in real-time from eligible Resources, that submit Real-Time Bids pursuant to Section 4.4 of, and Attachment D to, this ISO Services Tariff. Each Supplier will automatically be assigned a real-time Operating Reserves Availability bid of $0/MW for the quantity of Capacity that it makes available to the ISO in its Real-Time Bid. The ISO may schedule Suppliers that make themselves available to provide Operating Reserves up to the following maximum Operating Reserve levels: (i) for Spinning Reserves, the least of the Resource’s emergency response rate multiplied by ten and the Resource’s applicable Upper Operating Limit (UOLN or UOLE); (ii) for 10-Minute Non-Synchronized Reserves, or for non-synchronized 30-Minute Reserves, the Resource’s UOLN or UOLE, whichever is applicable at the relevant time (the Resource may offer one product or the other depending on the time required for it to start-up and synchronize to the grid); and (iii) for synchronized 30-Minute Reserves, the least of the Resource’s emergency response rate multiplied by twenty and the Resource’s applicable Upper Operating Limit (UOLN or UOLE). However, the sum of the amount of Energy or Demand Reduction, that each Resource is scheduled to provide, the amount of Regulation Service it is scheduled to provide, and the amount of each Operating Reserves product it is scheduled to provide shall not exceed its UOLN or UOLE, whichever is applicable.
For an Energy Storage Resource that is withdrawing Energy, the sum of the Resource’s Energy Schedule, the amount of Regulation Capacity it is scheduled to provide and the amount of Operating Reserves product it is scheduled to provide shall not exceed its UOL. The ISO may limit the availability of a Withdrawal-Eligible Generator to provide Operating Reserves based on its Energy Level constraints.
Suppliers will thus be selected on the basis of their response rates, their applicable upper operating limits, and their Energy Bids (which will reflect their opportunity costs) through a co-optimized real-time commitment process that minimizes the total bid cost of Energy, or Demand Reduction, Regulation Service, and Operating Reserves. As part of the process, the ISO shall determine how much of each Operating Reserves product particular Suppliers will be required to provide in light of the Reliability Rules and other applicable reliability standards, including the locational Operating Reserves requirements and Scarcity Reserve Requirements specified above.
The ISO shall notify each Supplier of Operating Reserve that has been scheduled by RTD of the amount of Operating Reserve that it must provide.
Any Resource that is eligible to supply Operating Reserves and that is made available to ISO for dispatch in Real-Time must also make itself available to provide Operating Reserves.
All Resources that are selected by the ISO to provide Operating Reserves shall respond to the ISO’s directions to activate in real-time.
When a Supplier committed to supply Operating Reserves is activated, the ISO shall measure and track its actual Energy injections and withdrawals, or its Demand Reduction against its expected performance in real-time. The ISO may disqualify Suppliers that consistently fail to provide Energy or Demand Reduction, or to reduce Energy withdrawals, when called upon to do so in real-time from providing Operating Reserves in the future. If a Resource has been disqualified, the ISO shall require it to pass a re-qualification test before accepting any additional Bids to supply Operating Reserves from it. Disqualification and re-qualification criteria shall be set forth in the ISO Procedures.
Except as noted below, the ISO shall calculate separate Day-Ahead Market and Real-Time Market prices for each of the products in five locations: (i) West of Central-East (“West” or “Western”); (ii) East of Central-East excluding Southeastern New York (“Eastern”); (iii) Southeastern New York excluding New York City and Long Island (“Southeastern”); (iv) New York City (“N.Y.C.”); and (v) Long Island (“L.I.”). The ISO will thus calculate fifteen different locational Operating Reserve prices in both the Day-Ahead Market and the Real-Time Market. The ISO will also calculate prices in the Real-Time Market for each of the products in a Scarcity Reserve Region, if applicable. Day-Ahead locational reserve prices shall be calculated pursuant to Section 15.4.5 of this Rate Schedule. Real-Time locational Operating Reserves prices and Scarcity Reserve Requirement prices shall be calculated pursuant to Section 15.4.6 of this Rate Schedule.
Suppliers of Operating Reserves located on Long Island shall receive settlement payments as if they were providing Operating Reserves located in Southeastern New York, except in the case of a Scarcity Reserve Requirement for a Scarcity Reserve Region that includes Long Island in addition to one or more other Load Zones. In this instance, suppliers of Operating Reserves located on Long Island shall receive settlement payments as if they were providing Operating Reserves located in Southeastern New York and in the applicable Scarcity Reserve Region. The ISO will calculate separate locational Long Island Operating Reserves prices and Long Island Scarcity Reserve Requirement prices for Scarcity Reserve Regions that include Long Island but will not post them or use them for settlement purposes.
The ISO will deem Spinning Reserve to be the “highest quality” Operating Reserve, followed by 10-Minute Non-Synchronized Reserve and by 30-Minute Reserve. The ISO shall substitute higher quality Operating Reserves in place of lower quality Operating Reserves, when doing so lowers the total as-bid cost, i.e., when the marginal cost for the higher quality Operating Reserve product is lower than the marginal cost for the lower quality Operating Reserve product, and the substitution of a higher quality for the lower quality product does not cause locational Operating Reserve requirements or Scarcity Reserve Requirements to be violated. To the extent, however, that reliability standards require the use of higher quality Operating Reserves, substitution cannot be made in the opposite direction.
The market clearing price of higher quality Operating Reserves will not be set at a price below the market clearing price of lower quality Operating Reserves in the same location or Scarcity Reserve Region. Thus, the market clearing price of Spinning Reserves will not be below the price for 10-Minute Non-Synchronized Reserves or 30-Minute Reserves and the market clearing price for 10-Minute Non-Synchronized Reserves will not be below the market clearing price for 30-Minute Reserves.
The ISO shall calculate hourly Day-Ahead Market clearing prices for each Operating Reserve product at each location. Each Day-Ahead Market clearing price shall equal the sum of the relevant Day-Ahead locational Shadow Prices for that product in that hour, subject to the restriction described in Section 15.4.4.3 of this Rate Schedule.
The Day-Ahead Market clearing price for a particular Operating Reserve product in a particular location shall reflect the Shadow Prices associated with all of the ISO-defined Operating Reserve requirements, including locational requirements, that a particular Operating Reserves product from a particular location may be used to satisfy in a given hour. The ISO shall calculate Day-Ahead Market clearing prices using the following formulae:
Market clearing price for Western 30-Minute Reserves = SP1
Market clearing price for Western 10-Minute Non-Synchronized Reserves = SP1 + SP2
Market clearing price for Western Spinning Reserves = SP1 + SP2 + SP3
Market clearing price for Eastern 30-Minute Reserves = SP1 + SP4
Market clearing price for Eastern 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5
Market clearing price for Eastern Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6
Market clearing price for Southeastern 30-Minute Reserves = SP1 + SP4 + SP7
Market clearing price for Southeastern 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5 + SP7 + SP8
Market clearing price for Southeastern Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6 + SP7 + SP8 + SP9
Market clearing price for N.Y.C. 30-Minute Reserves = SP1 + SP4 + SP7 + SP10
Market clearing price for N.Y.C. 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5 + SP7 + SP8 + SP10 + SP11
Market clearing price for N.Y.C. Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6 + SP7 + SP8 + SP9 + SP10 + SP11 + SP12
Market clearing price for L.I. 30-Minute Reserves = SP1 + SP4 + SP7 + SP13
Market clearing price for L.I. 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5 + SP7 + SP8 + SP13 + SP14
Market clearing price for L.I. Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6 + SP7 + SP8 + SP9 + SP13 + SP14 + SP15
SP1= Shadow Price for total 30-Minute Reserve requirement constraint for the hour
SP2= Shadow Price for total 10-Minute Reserve requirement constraint for the hour
SP3= Shadow Price for total Spinning Reserve requirement constraint for the hour
SP4= Shadow Price for Eastern, Southeastern, N.Y.C., or L.I. 30-Minute Reserve requirement constraint for the hour
SP5= Shadow Price for Eastern, Southeastern, N.Y.C., or L.I. 10-Minute Reserve requirement constraint for the hour
SP6= Shadow Price for Eastern, Southeastern, N.Y.C., or L.I. Spinning Reserve requirement constraint for the hour
SP7= Shadow Price for Southeastern, N.Y.C., or L.I. 30-Minute Reserve requirement constraint for the hour
SP8= Shadow Price for Southeastern, N.Y.C., or L.I. 10-Minute Reserve requirement constraint for the hour
SP9=Shadow Price for Southeastern, N.Y.C., or L.I. Spinning Reserve requirement constraint for the hour
SP10= Shadow Price for New York City 30-Minute Reserve requirement constraint for the hour
SP11= Shadow Price for New York City 10-Minute Reserve requirement constraint for the hour
SP12=Shadow Price for New York City Spinning Reserve requirement constraint for the hour
SP13= Shadow Price for Long Island 30-Minute Reserve requirement constraint for the hour
SP14= Shadow Price for Long Island 10-Minute Reserve requirement constraint for the hour
SP15= Shadow Price for Long Island Spinning Reserve requirement constraint for the hour
Day-Ahead locational Shadow Prices will be calculated by SCUC. Each hourly Day-Ahead Shadow Price for each Operating Reserves requirement shall equal the marginal Bid cost of scheduling Resources to provide additional Operating Reserves to meet that requirement in that hour, including any impact on the Bid Production Cost of procuring Energy or Regulation Service that would result from procuring an increment of Operating Reserve to meet the requirement in that hour, as calculated during the fifth SCUC pass described in Section 17.1.3 of Attachment B to this Services Tariff. As a result, the Shadow Price for each Operating Reserves requirement shall include the Day-Ahead Availability Bid of the marginal Resource selected to meet that requirement (or the applicable price on the Operating Reserve Demand Curve for that requirement during shortage conditions), plus any margins on the sale of Energy or Regulation Service in the Day-Ahead Market that that Resource would forego if scheduling it to provide additional Operating Reserve to meet that requirement would lead to it being scheduled to provide less Energy or Regulation Service. Shadow Prices will also be consistent with the Operating Reserve Demand Curves described in Section 15.4.7 of this Rate Schedule, which will ensure that Operating Reserves are not scheduled by SCUC at a cost greater than the relevant Operating Reserve Demand Curve indicates should be paid. If more Operating Reserve of a particular quality than is needed is scheduled to meet a particular locational Operating Reserve requirement, the Shadow Price for that Operating Reserve requirement constraint shall be set at zero.
Each Supplier that is scheduled Day-Ahead to provide Operating Reserve shall be paid the applicable Day-Ahead Market clearing price, based on its location and the quality of Operating Reserve scheduled, multiplied by the amount of Operating Reserve that the Supplier is scheduled to provide in each hour.
A Supplier that bids on behalf of (i) a Generator that provides Operating Reserves or (ii) a Demand Side Resource that provides Operating Reserves may be eligible for a Day-Ahead Bid Production Cost guarantee payment pursuant to Section 4.6.6 and Attachment C of this ISO Services Tariff.
The ISO shall calculate Real-Time Market clearing prices for each Operating Reserve product for each location in every interval and Scarcity Reserve Region in each interval for which a Scarcity Reserve Requirement is established by the ISO. Each real-time market-clearing price shall equal the sum of the relevant real-time locational Shadow Prices and Scarcity Reserve Requirement Shadow Prices for a given product, subject to the restriction described in Section 15.4.4.3 of this Rate Schedule.
The Real-Time Market clearing price for a particular Operating Reserve product for a particular location or Scarcity Reserve Region shall reflect the Shadow Prices associated with all of the ISO-defined Operating Reserve requirements, including locational requirements and Scarcity Reserve Requirements, that a particular Operating Reserves product from that location or Scarcity Reserve Region may be used to satisfy in a given interval. The ISO shall calculate the Real-Time Market clearing prices using the following formulae:
Market clearing price for Western 30-Minute Reserves = SP1
Market clearing price for Western 10-Minute Non-Synchronized Reserves = SP1 + SP2
Market clearing price for Western Spinning Reserves = SP1 + SP2 + SP3
Market clearing price for Eastern 30-Minute Reserves = SP1 + SP4
Market clearing price for Eastern 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5
Market clearing price for Eastern Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6
Market clearing price for Southeastern 30-Minute Reserves = SP1 + SP4 + SP7
Market clearing price for Southeastern 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5 + SP7 + SP8
Market clearing price for Southeastern Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6 + SP7 + SP8 + SP9
Market clearing price for N.Y.C. 30-Minute Reserves = SP1 + SP4 + SP7 + SP10
Market clearing price for N.Y.C. 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5 + SP7 + SP8 + SP10 + SP11
Market clearing price for N.Y.C. Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6 + SP7 + SP8 + SP9 + SP10 + SP11 + SP12
Market clearing price for L.I. 30-Minute Reserves = SP1 + SP4 + SP7 + SP13
Market clearing price for L.I. 10-Minute Non-Synchronized Reserves = SP1 + SP2 + SP4 + SP5 + SP7 + SP8 + SP13 + SP14
Market clearing price for L.I. Spinning Reserves = SP1 + SP2 + SP3 + SP4 + SP5 + SP6 + SP7 + SP8 + SP9 + SP13 + SP14 +SP15
SP1= Shadow Price for total 30-Minute Reserve requirement constraint and, if applicable, Scarcity Reserve Requirement constraint for the interval
SP2= Shadow Price for total 10-Minute Reserve requirement constraint for the interval
SP3= Shadow Price for total Spinning Reserve requirement constraint for the interval
SP4= Shadow Price for Eastern, Southeastern, N.Y.C., or L.I. 30-Minute Reserve requirement constraint and, if applicable, Scarcity Reserve Requirement constraint for the interval
SP5= Shadow Price for Eastern, Southeastern, N.Y.C., or L.I. 10-Minute Reserve requirement constraint for the interval
SP6= Shadow Price for Eastern, Southeastern, N.Y.C., or L.I. Spinning Reserve requirement constraint for the interval
SP7= Shadow Price for Southeastern, N.Y.C., or L.I. 30-Minute Reserve requirement constraint and, if applicable, Scarcity Reserve Requirement constraint for the interval
SP8= Shadow Price for Southeastern, N.Y.C., or L.I. 10-Minute Reserve requirement constraint for the interval
SP9= Shadow Price for Southeastern, N.Y.C., or L.I. Spinning Reserve requirement constraint for the interval
SP10= Shadow Price for New York City 30-Minute Reserve requirement constraint and, if applicable, Scarcity Reserve Requirement constraint for the interval
SP11= Shadow Price for New York City 10-Minute Reserve requirement constraint for the interval
SP12=Shadow Price for New York City Spinning Reserve requirement constraint for the interval
SP13= Shadow Price for Long Island 30-Minute Reserve requirement constraint and, if applicable, Scarcity Reserve Requirement constraint for the interval
SP14= Shadow Price for Long Island 10-Minute Reserve requirement constraint for the interval
SP15= Shadow Price for Long Island Spinning Reserve requirement constraint for the interval
Real-time locational and Scarcity Reserve Requirement Shadow Prices will be calculated by the ISO’s RTD. Each Real-Time Shadow Price for each Operating Reserves requirement, including a Scarcity Reserve Requirement, in each RTD interval shall equal the marginal Bid cost of scheduling Resources to provide additional Operating Reserves to meet that requirement in that interval, including any impact on the Bid Production Cost of procuring Energy or Regulation Service that would result from procuring an increment of Operating Reserve to meet the requirement in that interval, as calculated during the second RTD pass described in Section 17.1.2.1.2.2 of Attachment B to this ISO Services Tariff. As a result, the Shadow Price for each Operating Reserves requirement, including a Scarcity Reserve Requirement, shall include the Real-Time Availability Bid of the marginal Resource selected to meet that requirement (or the applicable price on the Operating Reserve Demand Curve or Scarcity Reserve Demand Curve for that requirement during shortage conditions), plus any margins on the sale of Energy or Regulation Service in the Real-Time Market that that Resource would forego if scheduling it to provide additional Operating Reserve to meet that requirement would lead to it being scheduled to provide less Energy or Regulation Service. Shadow Prices will also be consistent with the Operating Reserve Demand Curves and Scarcity Reserve Demand Curve described in Section 15.4.7 of this Rate Schedule, which will ensure that Operating Reserves are not scheduled by RTC at a cost greater than the relevant Operating Reserve Demand Curve or Scarcity Reserve Demand Curve indicates should be paid. If there is more Operating Reserve of the required quality than is needed to meet a particular locational Operating Reserve requirement or Scarcity Reserve Requirement then the Shadow Price for that Operating Reserve requirement or Scarcity Reserve Requirement constraint shall be zero.
Each Supplier that is scheduled in real-time to provide Operating Reserve shall be paid the applicable Real-Time Market clearing price, based on its location and the quality of Operating Reserve scheduled, multiplied by the amount of Operating Reserve that the Supplier is scheduled to provide in each interval that was not scheduled Day-Ahead.
15.4.6.1.1The Real-Time Market clearing price shall also reflect the Shadow Price for any Scarcity Reserve Requirement constraint as part of the applicable 30-Minute Reserve requirement constraint Shadow Price for the Load Zones included in the Scarcity Reserve Region. The inclusion of Scarcity Reserve Requirement constraint Shadow Prices in the calculation of Real-Time Market clearing prices is as set forth below:
(a)When the Load Zones included in a Scarcity Reserve Region are identical to the Load Zones of an existing locational reserve region, the Scarcity Reserve Requirement will be added to the existing 30-Minute Reserve requirement for the locational reserve region and the Shadow Price for the Scarcity Reserve Requirement will be the Shadow Price for the revised 30-Minute Reserve requirement. The use of Scarcity Reserve Requirement Shadow Prices in calculating Real-Time Market clearing in such circumstances is as follows:
i.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes Load Zones A, B, C, D, E, F, G, H, I, J, and K (i.e., all Load Zones), then the Shadow Price for the Scarcity Reserve Requirement shall be SP1. SP1 shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices;
ii.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes Load Zones F, G, H, I, J, and K (i.e., all East of Central-East Load Zones), but does not include Load Zones A, B, C, D, or E, then the Shadow Price for the Scarcity Reserve Requirement shall be SP4. SP4 shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices;
iii.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes Load Zones G, H, I, J, and K (i.e., all Southeastern New York Load Zones), but does not include Load Zones A, B, C, D, E, or F, then the Shadow Price for the Scarcity Reserve Requirement shall be SP7. SP7 shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices;
iv.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes Load Zone J (i.e., New York City only), but does not include Load Zones A, B, C, D, E, F, G, H, I, or K, then the Shadow Price for the Scarcity Reserve Requirement shall be SP10. SP10 shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices; or
v.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes Load Zone K (i.e., Long Island only), but does not include Load Zones A, B, C, D, E, F, G, H, I, or J, then the Shadow Price for the Scarcity Reserve Requirement shall be SP13. SP13 shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices.
(b)When the Load Zones included in the Scarcity Reserve Region are not identical to the Load Zones of an existing locational reserve region, the Shadow Price attributable to the Scarcity Reserve Requirement will be added to the applicable Shadow Price for the 30-Minute Reserve requirement for the existing locational reserve region to which all of the Load Zones included in the Scarcity Reserve Region belong. The inclusion of the Scarcity Reserve Requirement Shadow Prices shall apply only to the Load Zones included as part of a Scarcity Reserve Region. The use of Scarcity Reserve Requirement Shadow Prices in calculating Real-Time Market clearing in such circumstances is as follows:
i.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes at least one or more of Load Zones A, B, C, D, or E and Section 15.4.6.1.1(a)(i) of this Rate Schedule is not applicable, then the Shadow Price for the Scarcity Reserve Requirement shall be included in SP1 for each of the Load Zones included in the Scarcity Reserve Region. This SP1 value shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices for each of the Load Zones included in the Scarcity Reserve Region;
ii.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes at least Load Zone F, but does not include Load Zones A, B, C, D, or E and Section 15.4.6.1.1(a)(ii) of this Rate Schedule is not applicable, then the Shadow Price for the Scarcity Reserve Requirement shall be included in SP4 for each of the Load Zones included in the Scarcity Reserve Region. This SP4 value shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices for each of the Load Zones included in the Scarcity Reserve Region; or
iii.If the Scarcity Reserve Requirement is for a Scarcity Reserve Region that includes at least one or more of Load Zones G, H, I, J, or K but does not include Load Zones A, B, C, D, E, or F and Sections 15.4.6.1.1(a)(iii), 15.4.6.1.1(a)(iv), or 15.4.6.1.1(a)(v) of this Rate Schedule are not applicable, then the Shadow Price for the Scarcity Reserve Requirement shall be included in SP7 for each of the Load Zones included in the Scarcity Reserve Region. This SP7 value shall be utilized in the same manner as described in the formulae above in calculating Real-Time Market clearing prices for each of the Load Zones included in the Scarcity Reserve Region.
The ISO will establish a Scarcity Reserve Requirement for each Scarcity Reserve Region when it has called upon the EDRP and/or SCRs in identified Load Zones to reduce Load to address a reliability need. The Scarcity Reserve Requirement will be applicable for all real-time intervals during which the ISO has activated EDRP and/or SCRs within the applicable Scarcity Reserve Region to provide Load reduction. The Scarcity Reserve Requirement for each affected real-time interval shall be an amount equal to the sum of the applicable values for the Expected EDRP/SCR MW for all of the Load Zones included in a Scarcity Reserve Region, less the Available Operating Capacity in the Scarcity Reserve Region; provided, however, that a Scarcity Reserve Requirement shall not have a value less than zero.
The applicable value of the Expected EDRP/SCR MW for each Load Zone included in a Scarcity Reserve Region to be used in calculating the Scarcity Reserve Requirement is dependent upon whether the Load reduction for a given interval is deemed voluntary or mandatory for purposes of calculating the Scarcity Reserve Requirement, as further described below. If the ISO has satisfied the notification requirements set forth in Section 5.12.11.1 of this ISO Services Tariff for the SCRs within any Load Zone for any hour encompassed by the EDRP/SCR activation(s) for the day at issue, the Load reduction for all intervals encompassed by such activation(s) are deemed to be mandatory for the purposes of calculating any Scarcity Reserve Requirement only and the corresponding value for a mandatory Load reduction is used for SCRs in determining any Scarcity Reserve Requirement. In all other circumstances not encompassed by the preceding sentence, the Load reduction for all intervals encompassed by such EDRP/SCR activation(s) are deemed to be voluntary for the day at issue and the corresponding value for a voluntary Load reduction is used for SCRs in determining any Scarcity Reserve Requirement. For EDRP, Load reduction is deemed to be voluntary in all intervals and the value for EDRP included in the Expected EDRP/SCR MW value for each Load Zone reflects the voluntary nature of the Load reduction.
Any deviation in performance from a Supplier’s Day-Ahead schedule to provide Operating Reserves, including deviations that result from schedule modifications made by the ISO, shall be settled pursuant to the following rules.
(a)When the Supplier’s real-time Operating Reserves schedule is less than its Day-Ahead Operating Reserves schedule, the Supplier shall pay a charge for the imbalance equal to the product of: (i) the Real‑Time Market clearing price for the relevant Operating Reserves Product in the relevant location or Scarcity Reserve Region; and (ii) the difference between the Supplier’s Day-Ahead and real-time Operating Reserves schedules.
(b)When the Supplier’s real-time Operating Reserves schedule is greater than its Day-Ahead Operating Reserves schedule, the ISO shall pay the Supplier an amount to compensate it for the imbalance equal to the product of: (i) the Real‑Time Market clearing price for the relevant Operating Reserve product in the relevant location or Scarcity Reserve Region; and (ii) the difference between the Supplier’s Day-Ahead and real-time Operating Reserves schedules.
The ISO shall pay Generators that are selected to provide Operating Reserves Day-Ahead, but are directed to convert to Energy production or, for Withdrawal-Eligible Generators, to reduce Energy withdrawals in real-time, the applicable Real-Time LBMP for all Energy they are directed to provide in excess of their Day-Ahead Energy schedule.
A Supplier that bids on behalf of (i) a Generator that provides Operating Reserves or (ii) a Demand Side Resource that provides Operating Reserves may be eligible for a Bid Production Cost guarantee payment pursuant to Section 4.6.6 and Attachment C of this ISO Services Tariff.
A Supplier that provides Operating Reserves may also be eligible for a Day-Ahead Margin Assurance Payment pursuant to Section 4.6.5 and Attachment J of this ISO Services Tariff.
The ISO shall establish Operating Reserve Demand Curves for each locational Operating Reserves requirement. Specifically, there shall be a demand curve for: (i) Total Spinning Reserves; (ii) Eastern, Southeastern, New York City, or Long Island Spinning Reserves; (iii) Southeastern, New York City, or Long Island Spinning Reserves; (iv) New York City Spinning Reserves; (v) Long Island Spinning Reserves; (vi) Total 10-Minute Reserves; (vii) Eastern, Southeastern, New York City, or Long Island 10-Minute Reserves; (viii) Southeastern, New York City, or Long Island 10-Minute Reserves; (ix) New York City 10-Minute Reserves; (x) Long Island 10-Minute Reserves; (xi) Total 30-Minute Reserves (including separate demand curves applicable for each real-time interval the ISO has established a Scarcity Reserve Requirement); (xii) Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves (including separate demand curves applicable for each real-time interval the ISO has established certain Scarcity Reserve Requirements); (xiii) Southeastern, New York City, or Long Island 30-Minute Reserves (including separate demand curves applicable for each real-time interval the ISO has established certain Scarcity Reserve Requirements); (xiv) New York City 30-Minute Reserves (including a separate demand curve applicable for each real-time interval the ISO has established a Scarcity Reserve Requirement for which the pricing rules established in Section 15.4.6.1.1(a)(iv) of this Rate Schedule apply); and (xv) Long Island 30-Minute Reserves (including a separate demand curve applicable for each real-time interval the ISO has established a Scarcity Reserve Requirement for which the pricing rules established in Section 15.4.6.1.1(a)(v) of this Rate Schedule apply). Each Operating Reserve Demand Curve will apply to both the Day-Ahead Market and the Real-Time Market for the relevant product and location, except for those demand curves that apply to certain Scarcity Reserve Requirements which will be applicable only during the real-time intervals that a Scarcity Reserve Requirement has been established by the ISO. The ISO shall also establish a Scarcity Reserve Demand Curve for each Scarcity Reserve Requirement established by the ISO in the Real-Time Market for which the pricing rules established in Section 15.4.6.1.1(b) of this Rate Schedule apply. A Scarcity Reserve Demand Curve will be applicable only during the real-time intervals that such a Scarcity Reserve Requirement has been established by the ISO.
The market clearing pricing for Operating Reserves shall be calculated pursuant to Sections 15.4.5.1 and 15.4.6.1 of this Rate Schedule and in a manner consistent with the demand curves established in this Section so that Operating Reserves are not purchased by SCUC, RTC or RTD at a cost higher than the relevant demand curve indicates should be paid.
The ISO Procedures shall establish and post a target level for each locational Operating Reserves requirement for each hour, which will be the number of MW of Operating Reserves meeting that requirement that the ISO would seek to maintain in that hour. In establishing target levels for each locational Operating Reserves requirement, the ISO may, in accordance with the ISO Procedures, establish a component thereof for the procurement of quantities of Operating Reserves that exceed the minimum quantity that is necessary to comply with the Reliability Rules and other applicable reliability standards (for the purposes of this Section 15.4.7 hereinafter referred to as “Supplemental Reserves”). The ISO shall review with Market Participants any proposal to establish or adjust any Supplemental Reserves and obtain Operating Committee approval thereof at least 30 days prior to the implementation or adjustment of any Supplemental Reserves. As part of the required posting of the target level for each locational Operating Reserves requirement, the ISO shall expressly identify any Supplemental Reserves component thereof. Notwithstanding anything to the contrary herein any adjustments to the target level established for any locational Operating Reserves requirement that are necessary to comply with the minimum quantity of Operating Reserves required by the Reliability Rules and other applicable reliability standards shall not: (i) constitute Supplemental Reserves; or (ii) be subject to the requirements in set forth herein or the ISO Procedures associated with the establishment, or adjustment, of any Supplemental Reserves.
To the extent not otherwise already adjusted pursuant to Section 15.4.6.1.1(a) of this Rate Schedule, during each real-time interval in which the ISO has established a Scarcity Reserve Requirement, the ISO will adjust the target level for the locational 30-Minute Reserves requirement to account for the Scarcity Reserve Requirement within the existing locational reserve region(s) to which all the Load Zones included in the Scarcity Reserve Region belong.
The ISO will then define an Operating Reserves demand curve for that hour corresponding to each Operating Reserves requirement as follows:
(a)Total Spinning Reserves: For quantities of Operating Reserves meeting the total Spinning Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for total Spinning Reserves, the price on the total Spinning Reserves demand curve shall be $775/MW. For quantities of Operating Reserves meeting the total Spinning Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for total Spinning Reserves, the price on the total Spinning Reserves demand curve shall be $15/MW. For all other quantities, the price on the total Spinning Reserves demand curve shall be $0/MW.
(b)Eastern, Southeastern, New York City, or Long Island Spinning Reserves: For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island Spinning Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Eastern, Southeastern, New York City, or Long Island Spinning Reserves, the price on the Eastern, Southeastern, New York City, or Long Island Spinning Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island Spinning Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Eastern, Southeastern, New York City, or Long Island Spinning Reserves, the price on the Eastern, Southeastern, New York City, or Long Island Spinning Reserves demand curve shall be $15/MW. For all other quantities, the price on the Eastern, Southeastern, New York City, or Long Island Spinning Reserves demand curve shall be $0/MW.
(c)Southeastern, New York City, or Long Island Spinning Reserves: For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island Spinning Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island Spinning Reserves, the price on the Southeastern, New York City, or Long Island Spinning Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island Spinning Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island Spinning Reserves, the price on the Southeastern, New York City, or Long Island Spinning Reserves demand curve shall be $15/MW. For all other quantities, the price on the Southeastern, New York City, or Long Island Spinning Reserves demand curve shall be $0/MW.
(d)New York City Spinning Reserves: For quantities of Operating Reserves meeting the New York City Spinning Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for New York City Spinning Reserves, the price on the New York City Spinning Reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the New York City Spinning Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for New York City Spinning Reserves, the price on the New York City Spinning Reserves demand curve shall be $15/MW. For all other quantities, the price on the New York City Spinning Reserves demand curve shall be $0/MW.
(e)Long Island Spinning Reserves: For quantities of Operating Reserves meeting the Long Island Spinning Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Long Island Spinning Reserves, the price on the Long Island Spinning Reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the Long Island Spinning Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Long Island Spinning Reserves, the price on the Long Island Spinning Reserves demand curve shall be $15/MW. For all other quantities, the price on the Long Island Spinning Reserves demand curve shall be $0/MW.
(f)Total 10-Minute Reserves: For quantities of Operating Reserves meeting the total 10-minute reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for total 10-minute reserves, the price on the total 10-minute reserves demand curve shall be $750/MW. For quantities of Operating Reserves meeting the total 10-minute reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for total 10-minute reserves, the price on the total 10-minute reserves demand curve shall be $12/MW. For all other quantities, the price on the total 10-minute reserves demand curve shall be $0/MW.
(g)Eastern, Southeastern, New York City, or Long Island 10-Minute Reserves: For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island 10-minute reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Eastern, Southeastern, New York City, or Long Island 10-minute reserves, the price on the Eastern, Southeastern, New York City, or Long Island 10-minute reserves demand curve shall be $775/MW. For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island 10-minute reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Eastern, Southeastern, New York City, or Long Island 10-minute reserves, the price on the Eastern, Southeastern, New York City, or Long Island 10-minute reserves demand curve shall be $12/MW. For all other quantities, the price on the Eastern, Southeastern, New York City, or Long Island 10-minute reserves demand curve shall be $0/MW.
(h)Southeastern, New York City, or Long Island 10-Minute Reserves: For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island 10-Mminute Rreserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island 10-minute reserves, the price on the Southeastern, New York City, or Long Island 10-Mminute Rreserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island 10-minute reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island 10-minute reserves, the price on the Southeastern, New York City, or Long Island 10-minute reserves demand curve shall be $12/MW. For all other quantities, the price on the Southeastern, New York City, or Long Island 10-Minute Reserves demand curve shall be $0/MW.
(i)New York City 10-Minute Reserves: For quantities of Operating Reserves meeting the New York City 10-minute reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for New York City 10-minute reserves, the price on the New York City 10-minute reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the New York City 10-minute reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for New York City 10-minute reserves, the price on the New York City 10-minute reserves demand curve shall be $12/MW. For all other quantities, the price on the New York City 10-minute reserves demand curve shall be $0/MW.
(j)Long Island 10-Minute Reserves: For quantities of Operating Reserves meeting the Long Island 10-minute reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Long Island 10-minute reserves, the price on the Long Island 10-minute reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the Long Island 10-minute reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Long Island 10-minute reserves, the price on the Long Island 10-minute reserves demand curve shall be $12/MW. For all other quantities, the price on the Long Island 10-minute reserves demand curve shall be $0/MW.
(k)Total 30-Minute Reserves: For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement minus an amount equal to the sum of: (1) 955655 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $750/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus an amount equal to the sum of: (1) 655600 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii) that exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 955655 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $200625/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus an amount equal to the sum of: (1) 300545 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii)that exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 655600 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $100500/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement but that exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 300490 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii) exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 545 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $25375/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus an amount equal to the sum of: (1) 435 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii) exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 490 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $300/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus an amount equal to the sum of: (1) 380 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii) exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 435 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $225/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus an amount equal to the sum of: (1) 325 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii) exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 380 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $175/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus an amount equal to the sum of: (1) 200 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii) exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 325 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $100/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for total 30-Minute Reserves, but (ii) exceed the target level for that locational requirement minus an amount equal to the sum of: (1) 200 MW; and (2) any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $40/MW. For quantities of Operating Reserves meeting the total 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for total 30-Minute Reserves, the price on the total 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the total 30-Minute Reserves demand curve shall be $0/MW. However, the ISO will not schedule more total 30-Minute Reserves than the target level defined byestablished for the requirement for that hour.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement in the Real-Time Market for which the pricing rules established in Section 15.4.6.1.1(a)(i) of this Rate Schedule apply, the applicable Operating Reserves demand curve for total 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the total 30-Minute Reserves locational requirement target level plus the greater of: (a) zero; and (b) an amount equal to the Scarcity Reserve Requirement minus any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement (“NYCA scarcity target level”) that are less than or equal to the NYCA scarcity target level minus an amount equal to the sum of: (1) 9655 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement, the price on the total 30-Minute Reserves demand curve shall be $750/MW. For quantities of Operating Reserves meeting the NYCA scarcity target level that (i) are less than or equal to the NYCA scarcity target level but that exceed the NYCA scarcity target level minus an amount equal to the sum of: (1) 955600 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement, but (ii) exceed the NYCA scarcity target level minus an amount equal to the sum of: (1) 655 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement, the price on the total 30-Minute Reserves demand curve shall be $500625/MW. For quantities of Operating Reserves meeting the NYCA scarcity target level that (i) are less than or equal to the NYCA scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement minus Scarcity Reserve Requirement, but (ii) exceed the NYCA scarcity target level minus an amount equal to the sum of: (1) 600 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement, the price on the total 30-Minute Reserves demand curve shall be $500/MW. For quantities of Operating Reserves meeting the NYCA scarcity target level that are less than or equal to the NYCA scarcity target level but exceed the NYCA scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement minus Scarcity Reserve Requirement, the price on the total 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the total 30-Minute Reserves demand curve shall be $0/MW. However, the ISO will not schedule more total 30-Minute Reserves than the NYCA scarcity target level defined by the total 30-Minute Reserves locational requirement plus the Scarcity Reserve Requirement for that interval.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement(s) in the Real-Time Market, other than a Scarcity Reserve Requirement for which the pricing rules established in Section 15.4.6.1.1(a)(i) of this Rate Schedule apply, the applicable Operating Reserves demand curve for total 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the total 30-Minute Reserves locational requirement target level plus the greater of: (a) zero; and (b) an amount equal to the applicable Scarcity Reserve Requirement(s) minus any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement (“adjusted NYCA target level”) that are less than or equal to the adjusted NYCA target level minus an amount equal to the sum of: (1)955 655 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement(s), the price on the total 30-Minute Reserves demand curve shall be $750/MW. For quantities of Operating Reserves meeting the adjusted NYCA target level that (i) are less than or equal to the adjusted NYCA target level but that exceed the adjusted NYCA target level minus an amount equal to the sum of: (1) 955600 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement(s), but (ii) exceed the adjusted NYCA target level minus an amount equal to the sum of: (1) 655 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement(s), the price on the total 30-Minute Reserves demand curve shall be $500625/MW. For quantities of Operating Reserves meeting the adjusted NYCA target level that (i) are less than or equal to the adjusted NYCA target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement(s), but (ii) exceed the adjusted NYCA target level minus an amount equal to the sum of: (1) 600 MW; and (2) the greater of: (a) any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement; and (b) the Scarcity Reserve Requirement(s), the price on the total 30-Minute Reserves demand curve shall be $500/MW. For quantities of Operating Reserves meeting the adjusted NYCA target level that are less than or equal to the adjusted NYCA target level but exceed the adjusted NYCA target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the total 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement(s), the price on the total 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the total 30-Minute Reserves demand curve shall be $0/MW. However, the ISO will not schedule more total 30-Minute Reserves than the adjusted NYCA target level defined by the total 30-Minute Reserves locational requirement plus the applicable Scarcity Reserve Requirement(s) for that interval.
(l)Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves: For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $0/MW.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement in the Real-Time Market for which the pricing rules established in Section 15.4.6.1.1(a)(ii) of this Rate Schedule apply, the applicable Operating Reserves demand curve for Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement target level plus the greater of: (a) zero; and (b) an amount equal to the Scarcity Reserve Requirement minus any Supplemental Reserves component of the target level for the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement (“Eastern scarcity target level”) that are less than or equal to: (1) the Eastern scarcity target level; minus (2) an amount equal to: (i) the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement scarcity target level; minus (ii) the Scarcity Reserve Requirement, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $500/MW. For the quantities of Operating Reserves meeting the Eastern scarcity target level that (i) are less than or equal to the Eastern scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, but (ii) exceed the Eastern scarcity target level minus an amount equal to: (a) the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement scarcity target level; minus (b) the Scarcity Reserve Requirement, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting the Eastern scarcity target level that are less than or equal to the Eastern scarcity target level but exceed the Eastern scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $0/MW.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement(s) in the Real-Time Market for which all the Load Zones encompassed by such Scarcity Reserve Requirement belong to the East of Central-East reserve region, other than a Scarcity Reserve Requirement for which the pricing rules established in Section 15.4.6.1.1(a)(ii) of this Rate Schedule apply, the applicable Operating Reserves demand curve for Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement target level plus the greater of: (a) zero; and (b) an amount equal to the applicable Scarcity Reserve Requirement(s) minus any Supplemental Reserves component of the target for the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement (“adjusted Eastern target level”) that are less than or equal to the adjusted Eastern target level minus any Supplemental Reserves component of the target level for the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting the adjusted Eastern target level that are less than or equal to the adjusted Eastern target level but exceed the adjusted Eastern target level minus any Supplemental Reserves component of the target level for the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Eastern, Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $0/MW.
(m)Southeastern, New York City, or Long Island 30-Minute Reserves: For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement minus an amount equal to equal to the sum of: (1) any incremental 30-Minute Reserve target level established by the ISO for an amount not to exceed 500 MW (“SENY incremental reserve target level”); and (2) any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island 30-Minute Reserves, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $500/MW. For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island 30-Minute Reserves requirement that (i) are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island 30-Minute Reserves, but (ii) that exceed the target level for that locational requirement minus an amount equal to equal to the sum of: (1) the SENY incremental reserve target level; and (2) any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island 30-Minute Reserves, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting Southeastern, New York City, or Long Island 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Southeastern, New York City, or Long Island 30-Minute Reserves, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $0/MW.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement in the Real-Time Market for which the pricing rules established in Section 15.4.6.1.1(a)(iii) of this Rate Schedule apply, the applicable Operating Reserves demand curve for Southeastern, New York City, or Long Island 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement target level plus the greater of: (a) zero; and (b) an amount equal to the Scarcity Reserve Requirement minus any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement (“Southeastern scarcity target level”) that are less than or equal to the Southeastern scarcity target level minus an amount equal to equal to the sum of: (1) the SENY incremental reserve target level; and (2) the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $500/MW. For quantities of Operating Reserves meeting the Southeastern scarcity target level that (i) are less than or equal to: (1) the Southeastern scarcity target level; minus (2) the greater of: (a) zero; and (b) any Supplemental Reserves component of the target level for the Southeastern minus the Scarcity Reserve Requirement, New York City, or Long Island 30-Minute Reserves locational requirement, but (ii) that exceed the Southeastern scarcity target level minus an amount equal to equal to the sum of: (1) the SENY incremental reserve target level; and (2) the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting Southeastern scarcity target level that are less than or equal to the Southeastern scarcity target level but exceed: (1) the Southeastern scarcity target level; minus (2) the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $0/MW.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement(s) in the Real-Time Market for which all the Load Zones encompassed by such Scarcity Reserve Requirement belong to the Southeastern New York reserve region, other than a Scarcity Reserve Requirement for which the pricing rules established in Section 15.4.6.1.1(a)(iii) of this Rate Schedule apply, the applicable Operating Reserves demand curve for Southeastern, New York City, or Long Island 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement target level plus greater of: (a) zero; and (b) an amount equal to the applicable Scarcity Reserve Requirement(s) minus any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement (“adjusted Southeastern target level”) that are less than or equal to the adjusted Southeastern target level minus an amount equal to equal to the sum of: (1) the SENY incremental reserve target level; and (2) the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the applicable Scarcity Reserve Requirement(s), the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $500/MW. For quantities of Operating Reserves meeting the adjusted Southeastern target level that (i) are less than or equal to: (1) the adjusted Southeastern target level; minus (2) the greater of: (a) zero; and (b) any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the applicable Scarcity Reserve Requirement(s), but (ii) that exceed the adjusted Southeastern target level minus an amount equal to equal to the sum of: (1) the SENY incremental reserve target level; and (2) the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the applicable Scarcity Reserve Requirement(s), the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $2540/MW. For quantities of Operating Reserves meeting the adjusted Southeastern target level that are less than or equal to the adjusted Southeastern target level but exceed: (1) the adjusted Southeastern target level; minus (2) the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Southeastern, New York City, or Long Island 30-Minute Reserves locational requirement minus the applicable Scarcity Reserve Requirement(s), the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Southeastern, New York City, or Long Island 30-Minute Reserves demand curve shall be $0/MW.
(n)New York City 30-Minute Reserves: For quantities of Operating Reserves meeting the New York City 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for New York City 30-Minute Reserves, the price on the New York City 30-Minute Reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the New York City 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for New York City 30-Minute Reserves, the price on the New York City 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the New York City 30-Minute Reserves demand curve shall be $0/MW.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement in the Real-Time Market for which the pricing rules established in Section 15.4.6.1.1(a)(iv) of this Rate Schedule apply, the applicable Operating Reserves demand curve for New York City 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the New York City 30-Minute Reserves locational requirement target level plus the greater of: (a) zero; and (b) an amount equal to the Scarcity Reserve Requirement minus any Supplemental Reserves component of the target level for the New York City 30-Minute Reserves locational requirement (“N.Y.C. scarcity target level”) that are less than or equal to: (1) the N.Y.C. scarcity target level; minus (2) an amount equal to: (i) the New York City 30-Minute Reserves locational requirement scarcity target level; minus (ii) the Scarcity Reserve Requirement, the price on the New York City 30-Minute Reserves demand curve shall be $500/MW. For the quantities of Operating Reserves meeting the N.Y.C. scarcity target level that (i) are less than or equal to the N.Y.C. scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the New York City 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, but (ii) exceed the N.Y.C. scarcity target level minus an amount equal to: (a) the New York City 30-Minute Reserves locational requirement scarcity target level; minus (b) the Scarcity Reserve Requirement, the price on the New York City 30-Minute Reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the N.Y.C. scarcity target level that are less than or equal to the N.Y.C. scarcity target level but exceed the N.Y.C. scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the New York City 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, the price on the New York City 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the New York City 30-Minute Reserves demand curve shall be $0/MW.
(o)Long Island 30-Minute Reserves: For quantities of Operating Reserves meeting the Long Island 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement minus any Supplemental Reserves component of the target level for Long Island 30-Minute Reserves, the price on the Long Island 30-Minute Reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the Long Island 30-Minute Reserves requirement that are less than or equal to the target level for that locational requirement but exceed the target level for that locational requirement minus any Supplemental Reserves component of the target level for Long Island 30-Minute Reserves, the price on the Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Long Island 30-Minute Reserves demand curve shall be $0/MW.
During each real-time interval that the ISO has established a Scarcity Reserve Requirement in the Real-Time Market for which the pricing rules established in Section 15.4.6.1.1(a)(v) of this Rate Schedule apply, the applicable Operating Reserves demand curve for Long Island 30-Minute Reserves shall be as follows: For quantities of Operating Reserves meeting the Long Island 30-Minute Reserves locational requirement target level plus the greater of: (a) zero; and (b) an amount equal to the Scarcity Reserve Requirement minus any Supplemental Reserves component of the target level for the Long Island 30-Minute Reserves locational requirement (“Long Island scarcity target level”) that are less than or equal to: (1) the Long Island scarcity target level; minus (2) an amount equal to: (i) the Long Island 30-Minute Reserves locational requirement scarcity target level; minus (ii) the Scarcity Reserve Requirement, the price on the Long Island 30-Minute Reserves demand curve shall be $500/MW. For the quantities of Operating Reserves meeting the Long Island scarcity target level that (i) are less than or equal to the Long Island scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Long Island 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, but (ii) exceed the Long Island scarcity target level minus an amount equal to: (a) the Long Island 30-Minute Reserves locational requirement scarcity target level;, minus (b) the Scarcity Reserve Requirement, the price on the Long Island 30-Minute Reserves demand curve shall be $25/MW. For quantities of Operating Reserves meeting the Long Island scarcity target level that are less than or equal to the Long Island scarcity target level but exceed the Long Island scarcity target level minus the greater of: (a) zero; and (b) an amount equal to any Supplemental Reserves component of the target level for the Long Island 30-Minute Reserves locational requirement minus the Scarcity Reserve Requirement, the price on the Long Island 30-Minute Reserves demand curve shall be $10/MW. For all other quantities, the price on the Long Island 30-Minute Reserves demand curve shall be $0/MW.
The ISO will procure additional Operating Reserves to meet each Scarcity Reserve Requirement established by the ISO in the Real-Time Market for which the pricing rules established in Section 15.4.6.1.1(b) of this Rate Schedule apply. The Scarcity Reserve Demand Curve for each real-time interval in which the ISO has established such a Scarcity Reserve Requirement shall be defined as follows: For quantities of Operating Reserves meeting the Scarcity Reserve Requirement that are less than or equal to the Scarcity Reserve Requirement, the price on the Scarcity Reserve Demand Curve shall be $500/MW. For all other quantities, the price on the Scarcity Reserve Demand Curve shall be $0/MW.
In order to respond to operational or reliability problems that arise in real-time, the ISO may procure any Operating Reserve product at a quantity and/or price point different than those specified above. The ISO shall post a notice of any such purchase as soon as reasonably possible and shall report on the reasons for such purchases at the next meeting of its Business Issues Committee. The ISO shall also immediately initiate an investigation to determine whether it is necessary to modify the quantity and price points specified above to avoid future operational or reliability problems. The ISO will consult with its Market Monitoring Unit when it conducts this investigation.
If the ISO determines that it is necessary to modify the quantity and/or price points specified above in order to avoid future operational or reliability problems it may temporarily modify them for a period of up to ninety days. If circumstances reasonably allow, the ISO will consult with its Market Monitoring Unit, the Business Issues Committee, the Commission, and the PSC before implementing any such modification. In all circumstances, the ISO will consult with those entities as soon as reasonably possible after implementing a temporary modification.
Not later than 90 days after the implementation of the Operating Reserves Demand Curves the ISO, in consultation with its Market Advisor, shall conduct an initial review of them in accordance with the ISO Procedures. The scope of the review shall include, but not be limited to, an analysis of whether any Operating Reserve Demand Curve should be adjusted upward or downward in order to optimize the economic efficiency of any, or all, of the ISO Administered Markets. The ISO and the Market Advisor shall perform additional quarterly reviews, subject to the same scope requirement, during the remainder of the first year that this Section 15.4.7 is in effect. After the first year, the ISO shall perform periodic reviews, subject to the same scope requirement, and the Market Monitoring Unit shall be given the opportunity to review and comment on the ISO’s periodic reviews of the Operating Reserve Demand Curves and Scarcity Reserve Demand Curve.
The responsibilities of the Market Monitoring Unit that are addressed in the above section of Rate Schedule 4 to the Services Tariff are also addressed in Section 30.4.6.4.2 of Attachment O.
Transactions may be entered into to provide for Self-Supply of Operating Reserves. Except as noted in the next paragraph, Customers seeking to Self-Supply Operating Reserves must place the Generator(s) supplying any one of the Operating Reserves under ISO control. The Generator(s) must meet ISO rules for acceptability. The amount that any such Customer will be charged for Operating Reserves will be reduced by the market value of the services provided by the specified Generator(s) as determined in the ISO Services Tariff.
Alternatively, Customers, including LSEs, may enter into Day-Ahead Bilateral financial Transactions, e.g., contracts-for-differences, in order to hedge against price volatility in the Operating Reserves markets.
Effective Date: 12/31/9998 - Docket #: ER21-1018-000 - Page 1