The Market Implementation Committee approved several changes recommended by the Market Settlement and Credit subcommittees regarding data submission deadlines and credit requirements.
Power Meter and InSchedule
One set of changes, which will be effective June 1, 2015, would extend the deadlines for electric distribution companies (EDCs) to submit Power Meter and InSchedule data to address problems with reporting output for non-utility generators. The delay will allow a higher percentage of actual load data to be reported in InSchedule, particularly for EDCs with smart meters, and reduce the reconciliation adjustments.
Power Meter deadlines would be extended by an hour:
- Monday – Thursday Operating Days: Next business day @ 4 p.m. Eastern Prevailing Time (EPT)
- Friday – Sunday Operating Days: Monday @ 4 p.m. EPT
InSchedule deadlines would be extended by a day:
- Monday – Thursday Operating Days: Two business days @ 4 p.m. EPT
- Friday – Sunday Operating Days: Tuesday @ 4 p.m. EPT
Meter correction data deadlines would be extended by one month. The change would allow more time for generators and EDCs to gather data, improving accuracy of submitted corrections and reducing or eliminating later bilateral adjustments. PJM also would gain additional time to process and include the meter corrections in the bill.
In addition, load reconciliation data will be considered in balancing operating reserve (BOR) for deviation calculations. The change will affect all participants with BOR deviations. Load reconciliation billing would be performed under the current 60-day schedule.
Capacity Charge Reconciliation
The MIC also approved a change to provide relief for Pennsylvania EDCs squeezed by PJM and Pennsylvania Public Utility Commission deadlines.
PJM requires EDCs to upload their Peak Load Contribution (PLC) and Network Service Peak Load (NSPL) data to eRPM 36 hours prior to the operating day. The Pennsylvania PUC issued an order in April requiring that EDCs switch customers to new energy suppliers within three business days of notification of the switch. Under the PUC’s previous rules, it took 11 to 40 days to switch electric suppliers.
The new rule gives EDCs only one day to update their records to recognize the change and correct the PLC and NSPL values, raising the possibility of retail suppliers receiving inaccurate capacity charges.
The revised schedule retains PJM’s 36-hour-advance submission deadline but allows corrections to be made until noon the next business day.
Virtual Transactions Credit Requirement Reduced
As a result of improved cleared data availability under the eCredit system, the MIC approved a reduction in the credit requirement for virtual transactions to two days (one day of submitted bids for next market day plus one day of cleared bids) from four days (submitted bids for upcoming market day plus cleared bids for three prior days).
Also changed was the definition of credit available for virtual transactions, which would no longer include “billed” profits. The Credit Subcommittee said such profits cannot be depended on for recovery of transaction losses, because they are being committed to payout at the time a loss would be discovered.
