The five-year plan, approved by the NYISO Board of Directors, incorporates long-term objectives, financial discipline and operational priorities based on the boardÂ’s review of the economic and regulatory outlook, economic and environmental factors affecting market participants and the growing interest in using competitive wholesale electricity markets to achieve public policy priorities.
Â“We see a growing need for interregional cooperation among markets to optimize grid operations, enhance market efficiency, implement comprehensive system planning and integrate technological advances into the grid to help consumers realize benefits from competitive wholesale markets,Â” said NYISO Board Chair Robert Hiney.
At the center of the NYISOÂ’s strategic plan is a vision of broader regional markets based on collaborative efforts among neighboring grid operators to optimize system efficiency and preserve reliability through the shared use of grid resources. This strategic vision acknowledges that reliability and economic efficiencies will be enhanced through expanded planning and operational coordination among market administrators.
Broadening the pool of grid resources through enhanced market design will expand competition and enable operators to better respond to dynamic market and operating conditions across market borders.
To achieve its regional strategy, the NYISO envisions: Optimizing the economic flow of electricity across borders through improved coordination of market rules and the increased flow of real-time data on system conditions Coordinating planning processes that facilitate transmission investments in support of reliability, economic efficiency and public policy activities Deploying smart grid technologies that maintain system balance through the use of robust data, communications and automated systems.