PRESS RELEASE | NYISO Unveils 2021 Strategic Plan
Rensselaer, NY -- The New York Independent System Operator (NYISO) today released its 2021 Strategic Plan which discusses how the NYISO is uniquely positioned for the rapid transformation of the wholesale electric power grid. The plan provides solutions to enable the integration of new resources and facilitate the difficult transition away from fossil power generation.
The Strategic Plan also provides an updated mission statement that reflects the NYISO’s commitment to facilitating the transition to a more sustainable grid pursuant to state policy requirements. The NYISO’s new mission is succinct and clear: “Ensure power system reliability and competitive markets for New York in a clean energy future.”
The NYISO also unveiled its first vision statement as part of the 2021 Strategic Plan: “Working together with stakeholders to build the cleanest, most reliable electric system in the nation.” The refined mission statement and newly established vision statement communicates the NYISO’s purpose-driven commitments in a time of great change.
“There is no question that progress toward our state’s climate imperatives is accelerating,” said Rich Dewey, President and CEO of the New York ISO. “This strategic plan is designed to instill confidence that the company is actively planning over a ten-year time horizon for the technological, public policy, and environmental changes that promise to reshape our economy and our power system.”
“Building on our more than 20-year legacy of service, we remain committed to meeting consumer needs and expectations while being mindful of the broader economic, social, and environmental impacts of our business ― critical factors that work together to ensure our shared success,” said Dan Hill, Chair of the NYISO Board of Directors.
Included in the strategic plan are six objectives designed to provide guidance to the NYISO for the allocation of human, financial, and technological resources.
Leader in Reliability
- Sustain and enhance reliable operation of the changing New York electric grid.
- Provide a secure environment to protect the NYISO’s cyber, physical, and personnel resources.
Excellence in Execution
- Sustain a culture that fosters quality in all that we do and engenders customer confidence in our operations, markets, and planning.
- Support and develop our workforce to ensure the organization has the professional talent and skills needed to fulfill the NYISO’s mission.
- Demonstrate fiscal responsibility and cost management in order to mindfully provide value to consumers.
Leader in Application of Technology
- Provide industry leading reliability management systems that evolved with the needs of the grid.
- Enable industry leading market capabilities through the application of advanced technology platforms.
- Build and evolve a technology ecosystem that provides new levels of flexibility and agility to meet the needs of the future grid.
- Enhance our cyber security capabilities to protect grid and market operations against evolving and escalating cyber threats.
Robust System Planning
- Continuously enhance comprehensive system planning, including the reliability, economic, and public policy studies and other planning initiatives in New York.
- Provide insight and guidance regarding the evolving power system.
- Complete studies to analyze reliability, operations and market impacts to enable federal and state clean energy policy goals.
Leader in Market Design & Performance
- Support and increase reliability, market efficiency and value for consumers through the development of enhancements to the wholesale electricity markets.
- Foster fair, competitive, and transparent wholesale electricity markets that attract new investments and retain needed resources.
- Advance the transformation of the power grid with state-of-the-art technologies.
Authoritative Source of Information on Key Issues
- Provide an independent, unbiased source of information on the reliable operation of New York’s bulk electric system and wholesale electricity markets. Identify future needs by analyzing policy and technology developments.
- Provide industry leadership through leadership forums, conferences and professional and standard setting groups.
View the 2021 Strategic Plan Report
View the 2021 Strategic Plan Executive Summary Datasheet