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REC Index Pricing Structure and Calculations

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title	Introduction

This page provides an overview of the REC Index pricing structure and inputs for calculations using data from the NYSERDA Agreement, NYISO, and NYGATS.

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Calculation of Index Invoice for Reference

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title	All Projects (except RESRFP22-1) and for generation through April 30, 2024 (Original Calculation prior to implementation of Capacity Accreditation)

Calculation of Capacity Accreditation Index Invoice for Reference

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title	All Projects (except RESRFP22-1) and for generation beginning May 1, 2024

Calculation of Capacity Accreditation Index Invoice for RESRFP22-1 Projects for Reference

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title	All RESRFP22-1 Projects and for generation beginning May 1, 2024

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Click learn more... below to open and follow the steps to generate the Reference Energy Price for Zone report from NYISO. The Reference Energy Price is the simple average of the hourly zonal LBMPs for the applicable month.

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title	learn more...

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Access the

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title	NYISO Custom Report
url	https://www.nyiso.com/custom-reports?report=dam_lbmp_zonal

(click) or enter the following URL in your browser: https://www.nyiso.com/custom-reports?report=dam_lbmp_zonal (also accessible by navigating to the NYISO homepage > Markets > Energy Market & Operational Data > Custom Reports).

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Within the Custom Report page, select Day Ahead Market/LBMP and Zonal from the Select Report drop-downs.

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UI Step

Next, select the applicable zone(s) under the Choose Zone(s) section.

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Under Choose Options:

Input Start and End dates for the month (ex. 01/01/2021 - 01/31/2021)
Select Latest for Version
Select CSV (comma separated values) for Format

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UI Step

Then click the Generate Report button to generate a report.

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Calculate the Reference Energy Price by averaging the hourly LBMPs from the generated report.

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Click learn more... to open and follow the steps to determine the Reference UCAP Price for Zone from NYISO. The NYSERDA Agreement will specify the Zone to be used.

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title	Figure 1: New York Control Area Load Zones

Source: NYISO

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title	learn more...

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Access the

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icon	link
title	NYISO Spot Auction Summary
url	http://icap.nyiso.com/ucap/public/auc_view_monthly_detail.do

(click) or enter the following URL into your browser: Installed Capacity - View Spot Auction Summary (nyiso.com) (also accessible by navigating to the NYISO homepage > Markets > Installed Capacity Data > Monthly Auction Summary).

UI Step

Select the applicable Season and Auction month/Year from the drop-down, then click the Display button (e.g., for May 2022 Settlement, select Season: Summer 2022 and Auction Month/Year: May/2022).

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The Reference UCAP Price is the P rice ($/kW-Month) for the applicable project location.

Table 1: NYSERDA Agreement Applicable Zone and NYISO Spot Auction Summary Results
NYSERDA Agreement Applicable Zone	NYISO Spot Summary Results for UCAP
Zone A-F	NYCA - The NYCA Auction Result is used for Zones A-F because this output is the Market Clearing Price for Rest of State (ROS). The last entry in the Auction Results (ROS Price Paid by Bidders) is the weighted average of ROS, HQ, IESO, NE, and PJM Market Clearing Prices. These definitions are stated in the ICAP Automated Market System User's Guide
Zone G-I	G-I Locality
Zone J	NYC

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Click learn more… below to open and follow the steps to determine the Capacity Accreditation Resource Class (CARC) and Capacity Accreditation Factors (CAF) from NYISO for the applicable Capability Year. NYISO will verify the CARC for each project.

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UI Step
Access the NYISO Capacity Accreditation website or enter the following URL in your browser: https://www.nyiso.com/accreditation

UI Step
Select the Final CARCs and CAFs to view the Capacity Accreditation Resource Class (CARC) and Capacity Accreditation Factors (CAF) from NYISO for the applicable Capability Year.

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This page provides an overview of the REC Index pricing structure and inputs for calculations using data from the NYSERDA Agreement, NYISO, and NYGATS.

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Old Version 1

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Key

This page provides an overview of the REC Index pricing structure and inputs for calculations using data from the NYSERDA Agreement, NYISO, and NYGATS.