Jacob Mays
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jacobmays.bsky.social
Jacob Mays
@jacobmays.bsky.social
3.1K followers 320 following 53 posts
Assistant Professor, Cornell Civil and Environmental Engineering, working on energy systems and decision making under uncertainty. Tweeting in a personal capacity.
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jacobmays.bsky.social
I think the 6 GW is probably irrelevant in this case--need to know what was available specifically in zone 6 on this map. I agree that the system should be planned in a way that enables operation without both nuclear plants, but I think we'll need to wait for the MISO report to learn more.
Map of MISO reserve zones
May 28, 2025 at 8:58 AM
jacobmays.bsky.social
The basic idea is summarized in the abstract here:
This study investigates how algorithmic choices in power system operations affect the total compensation available to different technologies participating in wholesale electricity markets. We focus on systems that utilize capacity payments. The need for capacity payments arises due to the "missing money" problem, i.e., that prices in short-term markets for energy and ancillary services are suppressed below the level required to support resource adequacy. Capacity payments to different technologies are calibrated under the assumption that price suppression occurs only in instances of scarcity, such that market operators can restore theoretically efficient remuneration by tying capacity payments to estimates of production during scarcity events. However, the complexity of power system operations creates challenges with short-term price formation that can lead to price suppression in non-scarcity hours. Compensating for this form of price suppression through capacity payments results in inefficient remuneration overall. In simulations using data from the New York Independent System Operator, we show that current configurations can result in elevated payments to peaking power plants relative to technologies whose production is spread over more hours of the year (e.g., nuclear, wind, and hydropower). The results reinforce the case for price formation reforms that shift the composition of overall revenue in wholesale electricity markets away from capacity toward energy and ancillary services.
April 3, 2025 at 6:01 PM
jacobmays.bsky.social
Even the best ISO/TSO models are simple compared to the real complexity of the problem, I think. Here's how we put it in a recent paper.
December 18, 2024 at 2:00 PM
jacobmays.bsky.social
Published 43 years ago:
December 5, 2024 at 9:10 AM