Access data, tools, and information related to ISO New England’s Forward Capacity Market (FCM) and its auctions—the Forward Capacity Auction (FCA) and the Forward Capacity Reconfiguration Auctions—which help the region meet its future electricity needs. See Applications and Status Changes if you’d like to do business in New England’s energy markets or need to make changes to your ISO account.
Materials accessible below include:
See ISO Express for a large selection of real-time and historical ISO data and reports that can help market participants make informed decisions, such as:
The FCM is a locational capacity market intended to send appropriate price signals to attract new investment and maintain existing resources where and when they will be needed in New England in three years’ time.
For each capacity commitment period (CCP)—a one-year period from June 1 through May 31—ISO New England conducts a descending-clock auction called the Forward Capacity Auction (FCA) to procure the amount of resources needed to meet the region’s Installed Capacity Requirement (ICR). Other key FCM inputs include capacity needs for specific capacity zones (i.e., geographic subregions of the New England Balancing Authority Area that may represent load zones that are export constrained, import constrained, or contiguous—neither export nor import constrained). These ensure that local areas secure sufficient capacity during the auction to maintain reliability when transmission constraints prevent the system from delivering the needed electric energy to the area. Only capacity resources that have complied with FCA qualification and financial assurance requirements can participate in an FCA.
After an FCA, and before the start of its CCP, three annual reconfiguration auctions (RAs) are conducted—two years, one year, and just before the FCA commitment period begins. Before each month in the CCP, an RA for the capacity commitments during that month is conducted. The RA permits the trading of supply obligations among qualified capacity resources. Each annual RA also provides the ISO with the opportunity to procure additional capacity or to shed excess capacity for each capacity zone to reflect changes in system condition and capacity requirements.
An existing FCM resource that wants to opt out of an FCA before the deadline for qualifying its existing capacity and does not want a capacity obligation below a certain price may submit a de-list bid.
Other sections of the ISO website may also be helpful. Of note: