We served as an independent system operator’s (ISO) market expert in a variety of capacities, including the development of the initial design of its Forward Capacity Market (FCM).
Our team led multiple ISO project groups to create a detailed market design. We engaged with developers, engineering companies, and other stakeholders involved in the construction and operation of different generation technologies. This collaboration ensured that the final design of the FCM considered the business concerns of market participants.
Using the information gathered from these interactions, we developed a financial model to support the bidding structure for the FCM and to support the overall market design.
We also supported the ISO’s internal market monitor in evaluating bids and offers for participation in the FCM. We assessed the reasonableness of new capacity offers to determine whether the bids accurately reflected the long-run average cost of the new capacity, net of expected revenues from other non-capacity markets.
