ABB_id2059
in News Departments > New & Noteworthy
print the content item

PJM Interconnection's first auction for long-term financial transmission rights (FTRs) cleared 23,348 MW of transmission rights for periods up to four years in the future.

The auction was held October 1-3, with 62 members participating and 8,500 bids cleared. Previously, FTRs could be acquired only for the coming planning year. FTRs are financial instruments that enable holders to hedge against locational electricity price differences caused by transmission constraints in the day-ahead energy market.

"The success of this first auction is a strong indicator of interest in these long-term instruments, which provide more market certainty in developing long-term contracts," says Andrew L. Ott, senior vice president of markets for PJM. "The volume of transactions is about equal to the amount we generally receive in our monthly auctions, demonstrating the new auction already is drawing participation similar to the more mature FTR market."

Collectively, the auction cleared $18.5 million in revenue for the June to May periods of the years, 2009-2010, 2010-2011 and 2011-2012.

Round two of the long-term FTR auction will open Dec. 1. Results are expected to be posted by Dec. 10.

SOURCE: PJM Interconnection


Advertisement

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015