“Market Structure for a Decarbonized New York Electricity Market”

ABSTRACT: “The New York grid is facing an unprecedented transition as the state’s generation transitions to the state policy mandate to achieve 70% of New York State’s end-use energy be generated by renewable energy systems by 2030 (“70x30”) and an emission-free resource mix by 2040. Over the last decade, NYISO has developed a comprehensive set of market reforms that will be needed to facilitate the transition to a largely renewable and distributed power grid. The goal of these enhancements is to sharpen market signals that guide the performance of the asset base in real time to meet system needs and preserve reliability. These market signals are also designed to provide sufficient revenue for investment in needed new assets as well as preserving the existing assets needed to maintain reliability. While much progress has been made, NYISO continues to study the needs of the grid and those studies will be used to inform additional market design and operational enhancements.”
BIO:  Rana Mukerji is responsible for the Market Design; Product and Project Management; Strategic and Business Planning; Research and Development; and Market Training teams. Mr. Mukerji joined the NYISO in 2006. Previously, he spent several years as a global leader for ABB’s Utility T&D Services, Asset Management and Consulting businesses in North Carolina and Zurich. Prior to ABB, he was General Manager for GE’s Power Systems Energy Consulting Division and was instrumental in establishing the GE-MAPS software as an industry standard tool for evaluating competitive power markets. He earned a B.S in Electrical Engineering from the Indian Institute of Technology, a M.S. in Electric Power Engineering and a M.B.A. from Rensselaer Polytechnic Institute. He is a graduate of Harvard Business School’s Advanced Management Program. Mr. Mukerji is also a NY registered Professional Engineer.