FERC Commissioner Rich Glick’s astute observation at NARUC is profound!
Courtesy of FERC website
- February 14, 2019
- 871 views
One thing is perfectly clear, there is no shortage of new capacity looking to come online in New England between 2019 and 2023. According to data provided by ISO New England there are 167 total entries in the interconnect queue planning to come online between 2019-2023, representing a total of 24,698 MW of new capacity.
The breakdown, by Fuel Type, over the entire period 2019-2023 appears below:
Solar (not including BTM PV)
Factoring in the approximately 1,800 MW of forecasted new solar capacity (not included in the table above, i.e. BTM PV) for 2019-2023 raises the total amount of new capacity to 26,498. Adding the total amount of existing capacity supply MW’s as of 2018, approximately 31,300, results in a potential generating supply capacity online in 2023 of 57,798 MW, assuming no retirements occur during this time frame. Additional capacity MW’s from Energy Efficiency and Demand Response have not been included in this calculation, which would increase the total amount of available capacity significantly.
This represents a significant abundance of excess capacity, when you consider that peak demand in New England, historically, is less than 30,000 MW, and going down!
During the NARUC Winter meeting Federal Energy Regulatory Commissioner Rich Glick called for a "new approach to capacity markets, saying he has come to question the benefits of the forward-looking power auctions in his first year at the agency.”
I agree, Mr. Commissioner.