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

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.

Access the (click) or enter the following URL in your browser: (also accessible by navigating to the NYISO homepage > Markets > Energy Market & Operational Data > Custom Reports).

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

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

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

Then click the Generate Report button to generate a report.

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

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.

Source: NYISO

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

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).

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

Table 1: NYSERDA Agreement Applicable Zone and NYISO Monthly Auction Summary Results
NYSERDA Agreement Applicable ZoneNYISO Monthly Action Summary Results for UCAP

Zone A-F

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


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