NYISO: New York Independent System Operator

What it reported doing in 2025

Nyiso, governed by an independent board of directors and a committee structure comprised of stakeholder representatives, is subject to the oversight of the federal energy regulatory commission, and regulated in certain aspects by the New York state public service commission. Its operations are also overseen by electric system reliability organizations, including the north american electric reliability corporation, the northeast power coordinating council, and the New York state reliability council. Nyiso's efforts to serve the public interest and provide benefit to consumers include: i. Operating the bulk electricity grid in New York state, managing the flow of power on more than 11,000 circuit-miles of high-voltage transmission lines, from over 700 power generating units, on a minute-to-minute basis, 24 hours-a-day, seven days-a-week. Ii. Administering and monitoring New York's wholesale electricity markets, involving more than 400 market participants in daily and hourly auctions that match the buyers and sellers of power. Iii. Conducting long-term planning assessments of New York state's electricity resources and power needs, and evaluating the feasibility of projects proposed to meet those needs. Iv. Providing authoritative and objective data and analysis on energy issues to policy makers, regulators, market participants and other stakeholders. V. Developing and deploying communications and data management systems to optimize the dispatch of power on the bulk power system and implement wholesale electricity market design.

Financial Efficiency

• Mission deployment rate: 75.9%; rating input score 76
• Program expense ratio: 75.3%; rating input score 75
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 66th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 90%; rating input score 90; 19th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 0%; rating input score 23; 23rd percentile among comparable filings
• Total-asset coverage ratio: 3.16; rating input score 70; 70th percentile among comparable filings
• Liabilities to assets ratio: 1; rating input score 3; 3rd percentile among comparable filings
• Officer compensation ratio: 7.9%; rating input score 8; 8th percentile among comparable filings

Growth

• Program expense growth: 4% per year; rating input score 100; 30th percentile among comparable filings
• Revenue growth: 3.6% per year; rating input score 100; 29th percentile among comparable filings
• Asset growth: 2.8% per year; rating input score 100; 15th percentile among comparable filings