Yesterday NYISO provided a nice primer into some of its major price-driving congestion patterns. West to East, Upstate to Downstate, North to rest of state, and Southeast NY to upstate. The only missing congestion was NYC into Long Island, which we'll see more of this summer. While people get excited about $4k or $5k prices in ERCOT, for a few intervals Long Island actually had some of the highest LMPs we saw this spring, approaching $7,000/MWh. We're gearing up to release the public price map so that everyone can stay on top of the grid in real-time this summer.
Great example of transparency. Keep it up!
Energy Professional, Markets and Fundamentals
1moEven though there wasn't binding into Long Island but NYC, it is cool that this is (to my knowledge) one of the only examples of a interregional merchant transmission line in region actually providing a ton of value to the offtaker. Look at that spread! "Cross Sound Cable is the only transmission facility that has a Schedule 17 tariff as a merchant transmission owner (without a formula rate as regulated transmission owners have)." https://www.iso-ne.com/static-assets/documents/100010/cross_sound_cable_interactive_briefing_4_2_24.pdf "LIPA has a long-term contract for 330 MW of firm transmission rights on the Cross Sound Cable (“CSC”), a high-voltage direct current undersea transmission cable that interconnects the LIPA transmission system at Shoreham, NY with the ISO-New England transmission system at New Haven, CT. Another valuable feature of this arrangement is the continued reservation of firm interconnection rights for CSC, which enables LIPA to continue to make off-Island capacity purchases during the term of the CSC contract."