As an RTO, one of MISO’s key functions is to facilitate the availability of adequate resources to reliably meet the peak demand in the MISO region. MISO’s Resource Adequacy construct complements the jurisdiction that regulatory authorities have in determining the necessary level of adequacy and works in concert with Load Serving Entities (“LSEs”) that provide demand forecasts that help drive the development of local and regional requirements.
This voluntary annual capacity auction provides a way for Market Participants to meet resource adequacy requirements. The location-specific approach of the PRA encourages resources to be available when needed in the right locations in an economic and efficient manner.
MISO conducts seasonal resource assessments to evaluate potential resource adequacy risks for the upcoming season. These assessments evaluate projected near-term available capacity under probable and extreme peak load forecasts and historical generator outage conditions for each season. The assessments highlight potential issues in the upcoming seasons to help system operators and stakeholders prepare for potential strained system conditions and develop preventative actions.
Any work requiring additional FERC filings is outside the scope.
Auction cycle will move from annual to seasonal auction (clearing all four seasons still once yearly).
Seasonal Accredited Capacity (SAC)
The thermal resource accreditation will be calculated seasonally based on each resource’s real time offered availability during all hours and hours with the tightest operating conditions to effectively reflect the actual availability of resources during times when they are most needed. The calculation of SAC values will be enhanced to a more efficient, automated process in replacement of the current manual method for thermal type resources.
Minimum Capacity Obligation (MCO)
The MCO will require each Market Participant (MP) and their Asset Owners with load serving obligation to cover 50 percent of their Planning Reserve Margin Requirement (PRMR) minus the 50 MW de minimis threshold per MP with Zonal Resource Credits (ZRCs) supplied into the Planning Resource Auction (PRA) as a self-schedule or economic offer or procured prior to the PRA via either a Fixed Resource Adequacy Plan (FRAP) or ZRC transaction.
The general process for auctions will not change.
Data required for each auction cycle will not change.
Minimum Capacity Obligation (MCO)
The MCO makes no changes to any other provisions or obligations currently in place and is a completely stand-alone requirement. Any load that has been removed from the PRA by paying the Capacity Deficiency Charge then is no longer subject to the MCO, just like it wouldn’t have to procure ZRCs nor would it be part of the PRMR that needed to be met in the PRA. Also, complying with MCO does not ensure that any zone’s Local Clearing Requirement (LCR) is met, nor that the system overall will meet the combined PRMR or Local Resource Requirements (LRR). The MCO just formally sets the expectation that MPs with PRMR over 100 MW bring some amount of ZRCs into the Planning Year.
Development is currently underway. Enhancements are being released to MECT Customer Connectivity Environment (CCE) as they become available. Production release and implementation will coincide with the 2023-2024 Plan Year cycle to begin in September 2022. Please see Status Updates below for more information.
MISO provides stakeholders updates to these efforts at Resource Adequacy Subcommittee (RASC) meetings. Training opportunities and knowledge resources will also be communicated through this site. For notifications on the latest events, materials, and trainings, please follow this page to receive updates.
On-line training will be available in MISO Learning Center. Live workshop sessions have been recorded and videos are posted on the MISO Resource Adequacy Subcommittee (RASC) website. See latest Status Updates below for additional information.