New York City Capacity Cleared One Cent Above the Rest of the State for November, $5 Above for January

New York City capacity cleared at $2.73/kW-month for November in NYISO's monthly auction posted on 14 October, one cent above the rest of the state. In the November auctions of 2023, 2024 and 2025 the city cleared $9.38, $7.51 and $4.25 above the rest of the state.

The same auction priced the city at $8.24 for December and $9.75 for January and February, a $5.00 premium in the last two months. The gap comes from a one-time rule FERC accepted on 24 August in Docket ER26-2959. NYISO counts the 1,250 MW Champlain Hudson Power Express line from Québec as city capacity in November, March and April, and as zero from December to February, after Hydro-Québec's US affiliate supplied no capacity to New York in the peak winter months of the past two winters.

By TEI's calculation from NYISO's parameters, the city's minimum requirement falls by 420 MW on 1 December while 1,250 MW of assumed supply disappears, a net loss of about 830 MW of headroom. The city's spot surplus this summer, after the line was counted, was about 860 MW.

Forward months are thinly traded; only 53 MW cleared in January. November spot results are due this week.