Tom Bausemer, Chief Operating Officer
As our Chief Operating Officer, Tom Bausemer leads the ESAI Power practice, focusing on the New England, New York, and PJM and Midcontinent power markets. Tom brings over 25 years of experience in the information and commodity trading markets. Prior to joining ESAI Power, Tom spent 4 years as CRO at FastMarkets RISI, and also held senior management roles in consulting and business development at Forrester Research during his 11-year tenure.
Tom graduated from St. Bonaventure University with a BA in Journalism.
This update provides a high-level overview of our recently published NYISO Generation Asset Monitor (GAM) report and database. The NYISO GAM tracks the Interconnection queues for additions, forecasts plant retirements and plants deemed at risk of retirement, and provides an outlook for the timeline of renewable generation projects in PJM, MISO, NYISO and ISO-NE.
We will soon publish our Capacity Watch for PJM report, which provides a comprehensive analysis of market drivers and recent developments, including Market Rules Changes for Capacity Accreditation (ELCC & CIFP), Increased Demand Forecast for Data Centers & AI and Retirement Drivers: At-risk assets driven by coal ash rules.
ESAI Power’s latest Emissions Watch update, issued on May 16, 2024, provided our customers with our analysis of the four final rules issued by the US Environmental Protection Agency (EPA) in April 2024, including the Greenhouse Gas Rule (GHG), the Updated Effluent Limitation Guidelines (ELGs), the Updated Mercury and Air Toxics Standards (MATS) and the Coal Combustion Residuals (CCR) Rule.
The NYISO Summer Capability Period will begin on May 1st, with the following auction schedule:
Wednesday, March 27th – The NYISO ICAP Summer 2024 Strip Auction Bid Period Opens.
Thursday, March 28th – The Summer Strip Auction Bid Period closes.
Monday, April 1st – Results of the auction are posted.
Tuesday, April 9th – First monthly auction for Summer 2024.
April 24th – 25th – May Spot Market Auction.
April 29th – May Spot Market Auction results are posted.
ESAI’s Capacity Watch update to clients discusses the key auction parameters, changes in supply since Summer 2023/24, and ESAI’s forecast for the Summer period. ESAI’s NYISO Capacity Watch update includes predicted Summer 2024 Clearing prices for NYCA, Zone J, Zone K, and the G-J Locality.
ESAI brings 20 years of experience analyzing and forecasting the Capacity Markets in PJM, ISO-NE and NYISO, into our new Capacity coverage of MISO. ESAI also maintains a MISO Energy Asset Database (Delivered to subscribers in excel) that tracks the MISO Interconnection queue to forecast Renewables Additions that produces a Probability Weighted Renewable Additions forecast, any Fossil Additions, and also any plant Retirements or forecasting plants at risk of retirement.
ESAI Power’s latest Energy Watch market update includes our current 10-year power and natural gas price forecast across PJM, NYISO and ISO-NE. The update also includes our natural gas price forecast, based on our fundamental long-term view, along with forward market prices for the initial years. This blog post will delve into the critical details behind our near-term and long-term 10-year energy market forecast for ISO-New England.
Ethan Howland reports in Utility Dive that after receiving two key Federal Energy Regulatory Commission decisions, the PJM Interconnection plans to hold its next capacity auction in June. Our Scott Niemann, Managing Director & Principal, said the FERC-approved changes will likely put upward pressure on capacity prices in most parts of PJM. Driven by pending power plant retirements, prices in PJM’s Southwest MAAC zone could break higher than the overall regional transmission organization.
In ESAI’s latest Capacity Watch report, we analyze ISO-NE FCA18, Forward Capacity Auction. ESAI’s coverage includes auction parameters, qualified capacity, and expected auction dynamics. These are all detailed in our Capacity Watch report.
It has been a banner year for news in the wholesale power space and our top five blog posts reflect that with heavy concentration of capacity and renewable energy news in NYISO, MISO and the PJM Interconnection.
The most recent RGGI quarterly auction (Auction 62) was held on December 6, 2023. The clearing price was $14.88/ton, 7.4 percent higher than the clearing price of $13.85/ton on September 6, 2023 (see Figure 1). Auction 62 represents the third consecutive auction with increasing clearing prices, which follows three prior consecutive auctions with decreasing clearing prices.