Carnegie Mellon Electricity Industry Center

Capacity market is an important part of the electricity markets. It provides the much-needed revenue stream for resources to meet the resource adequacy need of the power system. Currently, major reforms in capacity markets are being discussed in major US markets to better align resources accredited capacity with their reliability contributions to facilitate the clean energy transition. ISO New England is developing a marginal reliability impact (MRI) based accreditation method under this reform. It will improve the substitutability of accredited capacity under the one-day-in-ten-year planning criterion, and achieve an optimal resource mix at the least cost in the long run. This talk will focus on the concept of the MRI design and discuss its impact on the capacity market of New England.

Tongxin Zheng is the Chief Technologist at ISO New England Inc. He serves as the head of Advanced Technology Solutions department, and is responsible for research and development in wholesale electricity market design, analysis and operations, smart grid technology, and emerging technologies. He also oversees the development of various market clearing and simulation software. He received his Ph.D. degree from Clemson University in electrical engineering in 1999, and has published many papers in the area of power system operation and optimization. He has served as an industry advisor for various DOE, NSF and PSERC projects. He is IAB chair of PSERC, vice chair of IEEE power system economic subcommittee, and a fellow of IEEE.