PRESS RELEASE | NYISO President and CEO Rich Dewey Delivers "State of the Grid" Address
Rensselaer, NY - New York ISO President and CEO Rich Dewey today presented stakeholders with his ‘State of the Grid’ address, focusing on pro-active steps the NYISO is taking to shape the grid of the future.
The wide-ranging remarks focused on every aspect of the NYISO’s business and its role in managing New York’s bulk electricity grid and wholesale energy markets as the state works to meet the aggressive requirements laid out in the Climate Leadership and Community Protection Act (CLCPA).
Many of the themes discussed by Mr. Dewey are further detailed in the recently issued Grid in Transition report, which addressed several key areas, including:
- Integrating Carbon Pricing into the markets as the most efficient, immediate and effective means to pursue the state’s public policy goals for clean energy production detailed in the CLCPA.
- Energy and ancillary services design enhancements to promote system flexibility.
- Improving the resource adequacy model to better align compensation with performance given the changing power grid.
- Comprehensive Mitigation Review: NYISO is actively engaging stakeholders to conduct a comprehensive review of NYISO market rules aimed at maintaining competitive market structures that will continue to support reliability, efficiency, and the transitioning grid.
Mr. Dewey also highlighted some of the significant planning work scheduled for 2020, some of which is already underway or completed, including:
- Congestion Assessment and Resource Integration Study (CARIS), which will include a scenario to evaluate moving to 70% renewable energy by 2030. The study will identify opportunities for transmission investment to un-bottle renewable energy to enable the state’s renewable energy production goals.
- Reliability Needs Assessment, which will include assessments of planned facility additions, modifications, and retirements through 2030 to identify any reliability needs that may arise.
- Climate Change Study, which will build upon recently completed work to consider the growth in load resulting from the projected electrification of the transportation and heating sectors and evaluate potential changes in the resource mix.
Mr. Dewey’s address reflected his vision and mission and the leadership necessary to address the unprecedented changes transforming New York’s power system. By collaborating with stakeholders and policymakers, the NYISO is committed to enabling this transformation through competitive markets while maintaining its core missions of reliability and economic efficiency.