Regulatory Updates by Region

New England regulatory update - October 7, 2013

On Oct. 7, 2013, the FERC approved the results of the Winter Reliability Program's competitive bid process, effective Sept. 20, 2013. According to the ISO-NE filing, market participants submitted bids totaling 2.29 million MWh, or 96 percent of the target, at a total offer price of $114.3 million. ISO-NE proposed to accept 1.995 million MWh, or 83.1 percent of the target, at a total price of $78.8 million. The selected bids included 3,780 MWh of demand response, with the remaining MWh provided by the oil inventory service. The oil inventory service includes 907,144 MWh provided by dual-fuel units.

How is the program being paid for?
While ISO-NE had originally proposed socializing the costs of the Winter Reliability Program backup generation among transmission owners in the region (i.e. "Regional Network Load"), rather than among all market participants (i.e. the "Real-time Load Obligation"), the FERC approved the socialization of costs among all market participants.

What does this mean to consumers?
Businesses located in Massachusetts, Maine, Rhode Island, and Connecticut (as well as other New England regions where we are not currently serving)—whether being served by their local utility or retail electric supplier—will be impacted by the cost of this program during its duration (December 2013 and January-February 2014). The additional costs associated with procuring backup generation will result in higher electricity bills during these months. If you are a Direct Energy Business customer, we will be providing specific communications in the very near future on how we plan to address these costs during the term of the program. In the meantime, please reach out to your Direct Energy Business Sales Representative or Portfolio Strategist with questions.

 

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