May 2025 ISSUE

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.

Phase two governance participation deadline July 23

Implementation of the Markets+ Tariff is officially underway. Fully rostered working groups and task forces are necessary to continue design and implementation activities for Markets+ during this time. Rosters will be built based on balanced representation from all sectors as outlined in respective scope statements. Working group and task force rosters for phase two will be approved at the Aug. 12-13 MPEC meeting. The deadline for consideration in the initial phase two governance seating is July 23. 

Independent governance is a cornerstone of all SPP offerings, and we are formally inviting stakeholders to participate in phase two governance, as a rostered member of a working group or task force, by signing one of three agreements: a phase two funding agreement, a phase two participation agreement or a phase two stakeholder agreement.

Markets+ webinars scheduled

Any interested party may request an agreement by using the SPP request management system, linked here: https://spprms.issuetrak.com/login.asp

IMIP meeting scheduled May 21

The next Interim Markets+ Independent Panel meeting is scheduled for 1 p.m. CT May 21. This meeting will be held virtually. You can register for the meeting here.

April protocol development

The following items passed unanimously at the April MPEC:

• New Glossary Definitions
• Protocols Section 4.2.2.1 (Resource Offer Parameters)
• Protocols Section 4.2.2.2.3 (Surplus Threshold Status)
• Protocols Section 5.0 (Greenhouse Gas (“GHG”) Pricing Programs & GHG Tracking and Reporting)
• Protocols Sections 5.1 (Resource Types Supplying Load in GHG Pricing Zones), excluding Sections 5.1.7, 5.1.8 and 5.1.10
• Protocols Section 5.2 (Market Clearing)
• Protocols Section 9.3 and all subsections (Identification of Assets Subject to GHG Pricing Programs)
• Protocols Appendix D Section 13
• Protocols Glossary
• Protocols Section 4.5.7.4 (Day-Ahead Make Whole Payment Amount)
• Protocols Sections 4.5.7.17, 4.5.7.18 (DA Must Offer Settlements)
• Protocols Section 4.5.8.4 (RUC Make Whole Payment Amount)
• Protocols Section 4.5.8.7 (RUC Make Whole Payment Distribution Amount)
• Protocols Sections 4.5.8.25, 4.5.8.26 (RTBM Must Offer Settlements)
• Protocols Section 4.5.8.23 (Real-Time Mid-Term Flex Up Non-Performance Amount)
• Protocols Section 4.5.8.27 (Real-Time Incremental Energy Make Whole Payment Amount)
• Protocols Section 4.5.8.28 (RUC Self-Incremental Energy Make Whole Payment Amount)
• Protocols Section 4.5.12 (Revenue Neutrality Uplift Distribution Amount)
• Protocols Appendix A (Meter Technical Protocols)
• Markets+ Change User Forum Recommendation
• Seams Strategy and Roadmap
• Recommended Changes to Markets+ Working Group and Task Force Scope Statements and Staff Recommendation Report Template
• Phase Two Governance Transition Plan

The following items passed with 93.3% approval:

• Markets+ MPEC Policy for Meeting Attendance and Proxy

See the April 22-23 MPEC minutes for more information.

April MPEC meeting overview

The Markets+ Participant Executive Committee (MPEC) met April 22-23 in Denver, Colorado. The group voted to approve various sections of the Markets+ protocols, nominations to fill vacant working group seats and the Markets+ Change User Forum (MCUF) recommendation. The group also approved the phase two governance transition plan, changes to working group and task force scope statements and recommendation report templates and the MPEC policy for meeting attendance and proxy. You can read more about the information covered in the meeting here.

Jim Gonzalez named Senior Director of Seams and Western Services

SPP named Jim Gonzalez as the new Senior Director of Seams and Western Services, effective May 1. Jim will lead the continued development of SPP’s electricity services in the Western Interconnection. Click here to learn more.

FERC approval of Markets+ funding agreement and funding mechanism

The Federal Energy Regulatory Commission (FERC) approved both the Markets+ Phase Two Funding Agreement and the proposed mechanism for funding the market’s development. “SPP is proud to see the hard work of the Markets+ stakeholders pay off in this series of approvals that clear the path towards market launch in 2027,” said SPP Chief Operating Officer Antoine Lucas. Read more here.

FERC approval of Markets+ compliance filing

FERC approved SPP’s compliance filing April 17. FERC required SPP to provide clarifying edits to the Markets+ Tariff when it was approved in January. This represents another meaningful step in the progress towards launching Markets+, bringing us closer to delivering lasting value to the West.