A-C | D-E | F-I | L-N| O-Q | R | S-Z | Acronyms
real-time - The period in the current operating day for which the ISO dispatches resources to provide electric energy and regulation service and, if necessary, commits additional resources.
real-time energy market - a market that balances differences between the day-ahead scheduled amounts of electricity needed and the actual real-time load requirements (see day-ahead energy market and energy market).
real-time load obligation (RTLO) - For each hour, the requirement that each market participant has for providing electric energy (megawatt-hours) at each node, external node, load zone, or the Hub equal to the megawatt-hours of load, including external transaction sales and internal bilateral transactions that transfer these obligations.
real-time prices - Locational marginal prices resulting from the dispatch of power within the operating day.
real-time reserve market - An ISO market where resources capable of providing 10-minute and 30-minute reserves are designated in real time, for which they are paid the reserve market clearing price.
redeclaration - Restatement of a resource's availability, limits, or other offer or bid parameters, except price-related supply offer data, which market participants submit to ISO New England and that reflect changes in the status or capability of the participant's resource. Also, changes that ISO New England makes to a resource on the basis of the resource's actual performance.
reconfiguration auction - An auction of the Forward Capacity Market whereby capacity supply obligations using a static double auction are traded monthly, seasonally, and annually to clear supply offers and demand bids for each capacity zone.
Regional Transmission Organization (RTO) - An independent regional transmission operator and service provider established by FERC and that meets FERC's RTO criteria, including those related to independence and market size. The RTO controls and manages the high-voltage flow of electricity over an area generally larger than the typical power company's service territory for its distribution system.
regulation - The capability of specially equipped generating resources to increase or decrease their generation output every four seconds in response to signals they receive from the ISO to control slight changes on the system. This capability is necessary to balance supply levels with the second-to-second variations in demand.
regulation market - A market in which load-serving entities pay for regulation service on the basis of real-time load obligations and market participants satisfy regulation requirements by providing the service from their own resources, through internal bilateral transactions for regulation, or by purchasing regulation from the market.
reliability - The assurance that power is available even under adverse conditions, such as unplanned outages of generation or transmission lines.
reliability adequacy - A measure of the reliability of the bulk power system to meet demand and the sufficiency of the system's generating resources.
Reliability Agreement - An agreement made between the ISO and a generation owner whereby an approved generator continues to operate, even when it is not economical to do so, to ensure system reliability, and whereby the generation owner recovers the fixed costs for operation; formerly termed Reliability Must-Run (RMR) Agreement.
reliability coordinator (RC) - The entity with the highest level of authority for reliably operating the bulk electric system, including the authority to prevent or mitigate emergency operating situations in next-day and real-time operations. The ISO has registered with NERC as an RC and is responsible for complying with NERC standards applicable to an RC.
Reliability Coordinator Area - The collection of generation, transmission, and loads within the boundaries of the reliability coordinator. The boundaries of a Reliability Coordinator Area coincide with one or more Balancing Authority Areas.
Reliability Regions - A defined region of the New England Control Area that reflects the operating characteristics of, and the major transmission constraints on, the New England transmission system. These regions contain the load zones.
re-offer period - Normally, the period between 16:00 and 18:00 the day before the operating day when market participants submit revised supply offers and revisions to demand bids for any dispatchable asset-related demand resources. The hours may change depending on software impacts or other events.
Reserve Adequacy Assessment or Analysis - The analyses ISO New England performs at the close of the re-offer period to ensure that adequate resources are committed to meet the forecasted load and operating reserve requirements for the Real-Time Energy Market.
reserve capacity - The amount of capacity a system can supply greater than what is required to meet demand.
Reserve Sharing Group (RSG) - A group whose members consist of two or more Balancing Authorities that collectively maintain, allocate, and supply operating reserves required for each Balancing Authority's use in recovering from contingencies within the group. Adjacent Balancing Authorities become a Reserve Sharing Group, if the transfer of electric energy from an adjacent Balancing Authority to aid in recovery is scheduled to be ramped in within 10 minutes or less. The ISO has registered with NERC as an RSG and is responsible for complying with NERC Standards applicable to an RSG.
Reserve-Shortage Pricing Event - When the control area is experiencing a deficiency in total 10-minute operating reserves or the ISO is taking actions to maintain 10-minute operating reserves. The ISO will also declare this condition when the control area is experiencing a deficiency in total operating reserves that has lasted for at least four hours and the ISO has begun taking actions to maintain or restore operating reserves.
resource - Any source of electric energy that increases the availability of capacity (in megawatts), such as a dispatchable load, a demand-response resource, or an electricity import or external transaction. Also see generating resource.
resource adequacy - The ability of a bulk electric power system to supply the aggregate electrical demand and energy requirements (i.e., the electrical loads of all the customers at all times plus external transaction sales to other control areas), taking into account scheduled and reasonably expected unscheduled outages of system devices (e.g., generators, transformers, circuits, circuit breakers, or bus sections). Annual expected system resource adequacy is calculated in terms of system loss-of-load expectation, accounting for load forecast uncertainty caused by weather and resource availability and reflecting assumed forced and scheduled outages.
resource planner (RP) - An entity that develops a long-term plan (generally one year and beyond) for the resource adequacy of specific loads within a Planning Authority area (i.e., the customer demand and energy requirements, including the electrical loads of all customers at all times plus external transaction sales to other control areas). The ISO has registered with NERC as an RP and is responsible for complying with NERC standards applicable to an RP.
retirement - The permanent removal from service of a facility, which cannot return to service without major refurbishment or relicensing.