The Benefits Of Markets
New York’s competitive wholesale electricity markets bring investment, efficiency, and transparency to the Empire State’s energy sector. The incentives built into the NYISO markets have served as a catalyst to improve the efficiency and availability of New York’s power plants, spur investment in new plants where they are most needed, improve the resource mix of generation, including significant growth of “green power” from wind projects, and cultivate demand side programs to reduce consumption during peak-use periods.
For More Information - View the 2011 ISO/RTO Metrics Report »
Generation Added
More than 8,600 MW of new generation have been built by public power and private suppliers since 2000, with 80% sited where demand is greatest (New York City, Long Island and the Hudson Valley.)
New Transmission
Since 2000, nearly 1,300 megawatts of new transmission capability have been added to bring more power from out of state.
Efficiency Enhanced
Power plants in New York improved their operations with increased availability as they reduced the length of planned and unplanned outages. Average plant availability increased from an average of 87.5 % in the years prior to restructuring (1992–1999) to 96.0 % in 2010. From 2000 to 2010, there was a 25 % overall improvement in system-wide heat rates of New York State power plants.
Green Power Growing
More than 1,300 MW of wind generation were in operation by 2011. Another 7,000 MW of wind project have been proposed for grid connection.
Emissions Declining
From 1999 to 2010, power plant emission rates (tons/year) dropped by double-digits. SO2 rates declined more than 80 %. NOx rates dropped more than 60 % and CO2 rates dropped by 25%.
Innovations Fostered
Demand response programs -- innovative incentives for electricity customers to reduce their power during times of peak demand -- have grown in competitive markets and now provide over 2,000 MW of alternatives to traditional power resources.
Lower Wholesale Power Costs
Wholesale electric energy costs reached historic lows in 2009 – 50 percent lower than in 2008 -- driven by lower electricity use and drops in the prices of natural gas (one of New York’s primary generating fuels). In 2010, cost increased over 2009’s historic lows as demand grew; however, costs remained well below 2008 prices.
Jobs & Investments
Since 2000, more than $10 billion has been invested in New York power-producing infrastructure, by companies providing 10,000 jobs and paying annual taxes exceeding $500 million a year.
