Per its Sub Hourly Settlements (SHS) Project, ISO New England adapted the settlement interval from hourly to every 5 minutes to encourage quicker responses to dispatch instructions.
The alignment of real-time dispatch instruction and pricing intervals resulted in generators, load resources, and external transactions settling at 5 minutes for Real-Time Energy, Regulation, Reserve, and Net Commitment-Period Compensation Charges (NCPC). The transition to a 5-minute settlement interval went live on March 1, 2017.
The 5-minute regulation capacity and regulation service settlement went live on Dec 1, 2017. At that time, ISO-NE made revisions to the MIS report descriptions, templates, and sample files for the following reports (complete details can be found on the MIS Report Descriptions, Templates, and Samples web page):
- SD_REGDTL: Retired, effective 12.01.2017
- SR_REGSUM: Retired, effective 12.01.2017
- SD_REGDTL5MIN: Modified, effective 12.01.2017
- SD_RTNCPCGEN5MIN: Modified, effective 12.01.2017
- SD_REGHRLYDTL: New, effective 12.01.2017
- SR_REGSUMMARY: New, effective 12.01.2017
PCI is pleased to help our clients with this transition by releasing the GenManager Bid-to-Bill System, with the 5-Minute Regulation functionality, ahead of the go-live.