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NYISO Cuts Budget by $1.1 Million

The 2014 budget of the New York Independent System Operator (NYISO) will total US$160 million, a $1.1 million reduction from its 2013 annual budget.

The NYISO’s annual budget is developed in collaboration with stakeholders through a shared governance process for review and approval by the board of directors. The NYISO recovers its budgeted costs through an assessment paid by market participants pursuant to Rate Schedule 1 of the NYISO’s FERC-approved tariffs. The charge is calculated by allocating annual budgeted costs over the forecasted energy volume for the year. The assessment is based on the actual energy that the market participant supplies or withdraws. In 2014, the charge will total $0.956/MWh, a reduction from $0.964 in 2013.

To implement 2014 budget reductions, the NYISO lowered its capital expenditures, consulting fees and telecommunications costs; is holding external legal costs and corporate insurance premiums at 2013 levels; and is refinancing debt to reduce interest costs.

The NYISO’s 2014 budget priorities comprise expenditures on projects and programs to address ongoing and emerging responsibilities, which include:

  • Expanded coordination between the electric system and the natural gas industry
  • Continued deployment of the NYISO’s Broader Regional Markets initiative to enhance collaboration and coordination among neighboring grid operations in the U.S. and Canada.
  • Evolution of capacity markets to enhance the availability of power resources to sustain electric system reliability
  • Enhancement and refinements to demand response programs, and integration of distributed energy resources
  • Continued comprehensive electric system planning processes and incorporation of new federal standards relating to electric system projects required by public policy.
  • Reinforcement and enhancements to cybersecurity protocols, practices and technology.