NYISO BLOG

In our latest Power Trends Podcast, we interview two leading Energy Information Administration (EIA) analysts about the impact of wholesale natural gas prices on winter electricity costs in New York.

The recent holiday-week deep freeze that strained gas networks and electricity grids across the nation had smaller impacts in New York due in large part to the ability of generators to switch fuels in times of tight supply.

As the transition to renewable energy accelerates in New York, we must monitor several factors to understand the impacts of this monumental change on electric system reliability. One of the biggest items to watch is progress with the Champlain Hudson Power Express (CHPE) transmission facility, and the impact the project could have on declining reliability margins in New York City.

The Reliability Needs Assessment (RNA) forecasts system conditions over the next ten years to determine whether the grid will have sufficient generating capacity and transmission capability to meet expected demand. If it does not, a reliability need is declared and the NYISO takes action to resolve it. The identification of reliability needs through this assessment is guided by mandatory reliability rules set by independent reliability organizations or accepted by regulators, including the North American Electric Reliability Corporation, the Northeast Power Coordinating Council, the New York State Reliability Council, and the Federal Energy Regulatory Commission.

This two-page datasheet provides the key takeaways from the 2022 Reliability Needs Assessment (RNA).

Every five minutes, 24 hours a day, electricity in New York State is bought and sold through competitive wholesale electric markets administered by the NYISO.

Released in October, NYISO’s 2021–2040 System & Resource Outlook (the Outlook) examines infrastructure investment needs as the electric grid evolves over the next 20 years to meet requirements of state, federal, and local climate policies.

The NYISO’s 2021–2040 System and Resource Outlook (the Outlook) looks at possible ways in which the power grid may evolve over the next 20 years in response to energy and climate policy mandates. The state’s Climate Leadership and Community Protection Act (CLCPA) requires 70% of electricity consumed in New York to be generated from renewable resources by 2030 and an emissions free power system by 2040.

The electric grid of the future is transforming before our eyes, with new technologies emerging that will forever change how we think about, manage, and use power.

Now that autumn in New York is in full swing, we take a moment to observe some important takeaways regarding electric system performance over the summer.

The NYISO recently released a new report that identifies the unprecedented level of electrical system investment necessary to achieve New York State’s climate policy requirements.

A new report by the NYISO, the 2021-2040 System & Resource Outlook (The Outlook) highlights the need for careful coordination of resource additions, transmission investment, and existing emitting generation retirements to achieve an orderly transition of the electric grid to 100% carbon-free.

This two-page datasheet provides the key findings and information from the 2021-2040 System & Resource Outlook Report.

(Updated September 13, 2022) - Fuel costs have risen dramatically in the past year due to economic factors rooted in the pandemic and amplified by the Russian invasion of Ukraine. Spiking global demand, lagging supply, and global instability caused by war, have combined to bring fossil fuel prices to historically high levels.

In our latest Power Trends Podcast, we interviewed two leading EIA analysts about domestic and international price trends and how world energy supply and demand are impacting wholesale electricity prices in New York.

A clean energy transition is underway. As fossil fuel plants retire and new renewable resources supply our energy needs, we need to move carefully to maintain reliability on the electric grid. A successful transition to a zero-emissions grid means synchronizing the addition of clean energy resources with the retirement of fossil-fuel generators to protect reliability.

The “Tale of Two Grids” is an old story when it comes to the New York electric system.

New York State’s nation-leading grid decarbonization requirements have set the stage for 70% renewable energy by 2030 and a zero-emissions electric grid by 2040.

State and local requirements in New York have created what are arguably the most aggressive climate change requirements in the nation. The question of how to maintain electric system reliability on the road to meeting the state’s decarbonization mandates has become a central focus among policymakers and industry stakeholders.

It’s going to take time and precision to build the grid of the future. Managing reliability carefully and investing in the right technologies as we transition to a grid increasingly based on clean energy will be key to success.