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RSG Costs ($ Millions)

Peaker

68

59

64

68

59

45

65

60

60

53

50

73

46

57

75

58

65

50

46

66

68

49

61

74

80

70

71

Congestion

19

22

19

35

24

12

15

30

31

8

11

21

10

6

42

9

12

9

5

20

18

10

15

53

34

47

12

Capacity

48

37

45

33

35

34

50

30

29

45

38

52

36

51

34

48

53

41

41

47

51

38

46

21

46

23

59

Non-Peaker

32

41

36

32

41

55

35

40

40

47

50

27

54

43

25

42

35

50

54

34

32

51

39

26

20

30

29

Congestion

4

12

10

10

15

16

11

13

14

6

10

5

26

7

8

11

5

25

18

4

3

11

6

12

8

10

2

Capacity

28

29

26

22

26

39

24

27

26

41

41

22

28

36

17

32

29

25

36

30

29

40

33

14

12

20

27

2009 State of the Market Report

Executive Summary

Nominal RSG costs fell by almost half in 2009 due primarily to lower fuel prices. This is evident because the fuel price-adjusted RSG was nearly unchanged in 2009. Even though they produced less than one percent of the energy generated in the Midwest ISO, the figure shows that peaking resources received two-thirds of real-time RSG payments in 2009. This is because peaking resources are generally the highest-cost resources and must be relied upon in real time to meet the reliability needs of the system.

Page xii

Figure E-5 shows RSG payments generated in the real-time market. Due to the considerable influence of fuel prices, the figure shows RSG in both nominal and fuel-adjusted terms. It also separately shows the fuel price-adjusted RSG payments associated with commitments made for capacity purposes or to relieve a constraint. The table below shows the share of RSG costs paid to peaking resources and non-peaking resources broken down by the reason for the unit commitment.

Fuel Price Adj. RSG: Congestion

59.95 M

48.63 M

44.55 M

Fuel Price Adj. RSG: Capacity

190.00 M

95.61 M

99.58 M

Total Nominal RSG

329.44 M

208.65 M

111.38 M

J

OND

$40 $35 $30 $25 $20 $15 $10 $5 $0

Avg

2008

Share of Real-Time

RSG Costs by Unit Type (%)

S

2009

07 08

09

J

F MAM

J

J

A

S

OND

A

2008

F MAM

JJ 2009

Figure E-5: Real-Time RSG Payments 2008 – 2009

RSG Distribution

2007

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