Date: January 18, 2023
Proceeding: Modernizing Electricity Market Design
Summary: EPSA highlights issues addressed across all six reports submitted by the FERC-jurisdictional ISOs and RTOs to draw attention to how competitive electricity markets can meet changing system needs reliably and cost effectively. In part, new state and federal policies and mandates are asking the system to achieve objectives it was not designed to deliver – and thus which impact reliability and cost. Even so, the competitive market structure remains the most effective and efficient model to do so. Other concerns requiring attention are: the need to retain the resources which support system reliability and are critical to addressing changing system impacts; reassessing the reliability planning criteria to direct market enhancements as needed, and recommitting to a concerted effort to address natural gas-electricity interdependence issues which hamper system reliability during system stress.