Some state regulators in Midcontinent Independent System Operator are warming up to the idea of using a sloped demand curve to value excess capacity in MISO’s capacity market, hoping it will reduce capacity price volatility and to prevent states with shortfalls from leaning on states with excess capacity. “I am tired of people freeriding on our capacity,” Julie Fedorchak, the chair of the North Dakota Public Service Commission, said during an Aug. 25 meeting for stakeholders to discuss policy ideas. The market desperately needs to be sending a signal on the value of capacity, and a sloped demand curve should be one of the tools to do that, she said.
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