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ARTICLE · 30 MAY 2018

Carbon Pricing Update: Assessing NYISO's Carbon Pricing Straw Proposal

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The New York Independent System Operator (NYISO) recently released a Carbon Pricing Straw Proposal (Proposal) to advance the State's energy and environmental goals ...

United StatesEnergy and Natural Resources
George (Chip) Cannon Jr.
George (Chip) Cannon Jr.
Shawn Whites
Shawn Whites
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The New York Independent System Operator (NYISO) recently released a Carbon Pricing Straw Proposal (Proposal)1 to advance the State's energy and environmental goals by reflecting the cost of carbon emissions in wholesale energy market offers via a "carbon charge."  The Proposal also considers carbon charges on electricity imports into NYISO, outlines a methodology for returning carbon charge "residuals"2 to consumers, and contemplates minor changes to NYISO's capacity market and transmission planning processes. 

We previously reported that ISO New England, Inc. (ISO-NE) and PJM Interconnection, L.L.C. (PJM) were considering similar proposals; thus far, carbon pricing has failed to gain traction in ISO-NE due to jurisdictional concerns from state governments, and PJM's sub-regional carbon pricing framework is only in the beginning stages of discussion among PJM member states.3  NYISO could therefore become the first grid operator to price carbon in the wholesale

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