December 2024 ISSUE

Markets+ Friends -

SPP presents this monthly newsletter compiling timely, useful information related to Markets+ development. Have questions or comments? Email marketsplus@spp.org. We’d love to hear from you.

FERC Markets+ Tariff decision

When Southwest Power Pool (SPP) filed its Markets+ Tariff deficiency letter response with the Federal Energy Regulatory Commission (FERC) in September, we requested a response by Nov. 20. While we had hoped for a response by this time, FERC is not required to adhere to our request.


Thorough evaluation of a new market takes time, and SPP trusts that FERC will take as much time as they need to ensure Markets+ is designed to provide as many equitable benefits as possible to the West.


While we await a response from FERC, SPP staff and Markets+ participants will continue defining detailed protocols for the market’s administration.

IMIP Dec. 19 Net Conference

Phase two agreements

The next Interim Markets+ Independent Panel (IMIP) meeting is scheduled for Dec. 19. Register to attend the conference here.

SPP continues to work on phase-two funding agreements with phase-one participants and other parties interested in joining Markets+ phase-two development. A revised version of the phase-two funding agreement has been shared with stakeholders. SPP is requesting a Dec. 16 deadline for executed agreements. Stakeholder agreements for non-funding parties will be distributed after funding party agreements are complete.

November protocol development

The following protocol sections have been approved by various working groups and are up for approval by the Markets+ Design Working Group (MDWG) and Markets+ Operations Reliability Working Group (MORWG):

  • Protocols 4.2.2.2.2 (Dispatch Status)
  • Protocols Section 9 (Market Registration)
  • Protocols Section 9.1.14 (Resource Aggregation)
  • Protocols Section 11 (Market Monitor Mitigation)
  • Protocols Section 12 (Market Process and System Change Process)
  • Appendix A (Meter Technical Protocols)
  • Appendix D (Offer Mitigation)

Markets+ Participant Executive Committee Meeting Summary

The following items passed unanimously at the November MPEC:

  • Protocols Section 5.8 (GHG Tracking and Reporting)
  • Protocols Section 4 (Energy and Flexibility Reserve Products Markets Requirements and Processes) to 4.1.5.1 (Demand Curve Interaction with VRLs)
  • Protocols Sections 4.2.5 (Multi-Day Forecast Analyst) – 4.2.5.2 (Multi-Day Forecast Analysis Results)
  • Protocols 4.3 (Day-Ahead Activities) to 4.4.4.1.2 (Load Deviation Exemptions)
  • Protocols 4.5 (Post Operating Day and Settlement Activities) to 4.5.4.3 (MCP Calculations), excluding subsection 4.5.3
  • Protocols Section 4.5.5 (Settlement Location LMPs and LMP Components) to Section 4.5.6.1 (FERC Electric Quarterly Reporting)
  • Protocols 4.5.7 (Day-Ahead Market Settlement Overview) to 4.5.7.23 (Day-Ahead Non-Asset GHG Amount), excluding subsections 4.5.7.4, 4.5.7.5, 4.5.7.17, 4.5.7.18 and 4.5.7.19
  • Protocols 4.5.8 (Real-Time Balancing Market Settlement Overview) to 4.5.11 (Miscellaneous Amount), excluding subsections 4.5.8.4, 4.5.8.5, 4.5.8.7, 4.5.8.10, 4.5.8.21, 4.5.8.23, 4.5.8.25, 4.5.8.26, 4.5.8.27 and 4.5.8.28
  • Protocols Section 4.5.13 (Settlement Statement Process) – 4.5.16.3 (Market Operator Payments to Invoice Recipients)
  • Protocols 10 (Market System Outages) to 10.2.2 (Disputes and Resettlement Provisions)
  • Protocols Appendix B (Settlement Metering Data Management Protocols)
  • Protocols Appendix C (Network and Commercial Model Update Timing)
  • Protocols Section 6 (Congestion Rent)
  • Protocols Sections 4.2.1-4.2.1.2 ((Real-Time and Day-Ahead Must Offers)
  • Protocols Section 4.16 (Outage Scheduling and Reporting)


One item passed with 97.44% approval:

  • Protocols Sections 4.2.2.7, 4.2.3.3 and 4.2.4 (Interchange Transactions)


See the Nov. 12 MPEC minutes for more information.

Arizona entities announce commitment to Markets+

Four Arizona entities announced last month their commitment to participate in Markets+: Arizona Public Service (APS), Salt River Project (SRP), Tucson Electric Power (TEP) and Unisource Energy Services.


“Arizona is one of the fastest growing states in the country and we are thoughtfully planning for the future and evolving our operations to continue to provide top-tier service and reliability to our customers at an affordable cost,” said Brian Cole, APS Vice President of Resource Management. “Together with our neighboring utilities, APS plans to join Markets+ to efficiently deliver energy and bolster the resilience of our shared energy grid in Arizona and across the region.”


“SRP’s participation in SPP Markets+ is a key component of our plan to meet the growing energy needs of our customers reliably and affordably and will help us achieve our 2035 Sustainability Goals,” said Josh Robertson, SRP Director of Energy Market Strategy. “We look forward to working with utilities in the region to bring the cost and resilience benefits to our respective customers.”


“Tucson Electric Power and UniSource Energy Services are excited about the value that Markets+ can provide to our customers, including cost savings and greater access to clean energy and other resources that support affordable, reliable service,” said Erik Bakken, TEP Senior Vice President. “We look forward to strengthening an already collaborative, productive relationship with Southwest Power Pool, our reliability coordinator, in its new role as market operator.”


Read the full release here.


Markets+ Issue Alerts Continue

Markets+ participants released a new issue alert as part of a series identifying and explaining the key governance and market design elements of Markets+ and why these differences have important consequences for customers in terms of reliability, economic value, and environmental objectives. The newest alert details market operator actions and modeling and how market operators run markets day-to-day. You can read the seams issue alert here.

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